Innovent Biologics reaps USD 421 Million by Hong Kong IPO
Innovent Biologics got delivered USD 421 million in its IPO. The Suzhou-based unicorn priced 236.35 million shares near the top of the range at HK USD 13.98. The USD 245 million is given by a group of 10 cornerstone investors, because of which Innovent’s total valuation is at around USD 2 billion. The list includes Singapore sovereign wealth fund Temasek, Sequoia Capital China, Shanghai-based Greenwoods Investment, Hong Kong-based asset management company Value Partners and American financial services company Capital Group.
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