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Tuesday, Jan 26, 2021

Shanghai and Shenzhen stock markets are shaping up as viable rivals to Hong Kong in the race for the biotech IPO crown

Shanghai and Shenzhen stock markets are shaping up as viable rivals to Hong Kong in the race for the biotech IPO crown

Sixteen pre-profit biotech firms have raised a combined US$4.5 billion in Hong Kong since April 2018, compared with two listings on Nasdaq that raised US$264 million in the same period. Last year, Shanghai’s regulators allowed drug developers that have yet to earn a revenue or profit to raise funds on the Star market, followed recently by a similar green light on the ChiNext market in Shenzhen
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