China’s Ab&B Bio-Tech shares Skyrocket 170% on Hong Kong IPO
Photo: Reuters
Ab&B Bio-Tech, a vaccine development company focused on influenza and rabies, saw its shares surge nearly 170% on their Hong Kong Stock Exchange debut.
The company raised $55 million through an initial public offering (IPO) that attracted overwhelming retail interest—nearly 4,000 times oversubscribed—prompting a reallocation of shares initially reserved for institutional investors.
Despite tepid demand from institutions, retail investors propelled the stock to an early high of HK$34.80, highlighting strong enthusiasm for biotech innovation in the region.
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