The listing looks to raise about $1b.
Shenzhen-listed biotech firm Hangzhou Tigermed Consulting received Hong Kong Stock Exchange’s (HKEX) approval to conduct a second listing, a Bloomberg report revealed.
Hangzhou Tigermed could start gauging investor demand from next week. It is expected to raise about $1b, which would be the largest for a healthcare firm in Asia this year. Tigermed has already seen a 70% jump in its shares in Shenzhen.
Claiming to be the second-best performer of the year, Tigermed has partnered with a growing number of healthcare and pharmaceutical companies to sell shares at a record rate. Deliberations on Tigermed’s share sale are ongoing and details including size and timeline could still change.
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