Ganzhou Hemay Delays Hong Kong IPO
Chinese pharmaceutical firm Ganzhou Hemay has delayed its planned Hong Kong stock exchange listing and global offering, citing unfavorable market conditions. The company confirmed that all application monies will be fully refunded without interest while it evaluates future timing.
Ganzhou Hemay Pharmaceutical delayed its global offering and planned Hong Kong listing on Wednesday morning, citing unfavorable market conditions. The China-based drugmaker aimed to raise HK$1.04 billion ($132.56 million) at a maximum offer price of HK$18.9 per share. The postponement halts one of the market's anticipated biotech share sales during a broader fundraising boom.
