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BUSINESS & TECH

Investors Go Online, Off Drugs in Hot Year for China IPOs

China Tower Chairman and CEO Tong Jilu celebrates the company's listing on the Hong Kong Stock Exchange on Aug. 8. Photo: VCG
China Tower Chairman and CEO Tong Jilu celebrates the company's listing on the Hong Kong Stock Exchange on Aug. 8. Photo: VCG

* State-owned cellular tower operator China Tower raised nearly $7 billion, though its shares finished flat in their trading debut.

* Biotech firm BeiGene fizzled in its debut, losing about 1% after the firm raised about $900 million.

(Beijing) — Two of the biggest initial public offerings (IPOs) of 2018 took place in Hong Kong this week, spotlighting China’s place among the year’s biggest offerings as a field dominated by venture-backed startups cashed in on positive sentiment.

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