Hong Kong strengthens biotech with 16 new listings

HONG KONG - Hong Kong's biotech market has grown quickly since new Listing Rules were introduced in 2018, opening the door to pre-revenue biotech companies for the first time. Since then, 16 biotech companies have listed on the HKEX Main Board, raising a total of HK$53.5 billion.

Among them, nine pre-revenue biotech firms have listed under Chapter 18A of the Main Board Listing Rules, raising HK$26.8 billion.

HKEX says the healthcare sector of the Hong Kong market is seeing a diversification of issuers, in particular medical device companies, contract research organisations and other medical services companies.

Hong Kong is now the second-largest fundraising centre for biotech companies globally. HKEX says it is striving to make Hong Kong one of the world's major healthcare and biotech capital formation centres.

www.hkex.com.hk (ATI).