BeiGene’s $3.1 Billion Shanghai Share Sale Wins Approval

What’s new: China’s securities regulator Tuesday approved BeiGene’s 20 billion yuan ($3.1 billion) initial public offering (IPO) on the Shanghai Stock Exchange’s Nasdaq-like STAR Market, making it the first Chinese biopharmaceutical company to have shares traded on the Chinese mainland, in Hong Kong and in the U.S.

As the STAR Market’s listing committee cleared BeiGene’s IPO in June, the approval by the China Securities Regulatory Commission was the last step before the share sale.