IPO backup plan

Temasek-backed Transcenta mulls HK-China dual IPO listing

After announcing a $100 million Series B+ funding, the biotech company’s CEO tells FinanceAsia it is now in full IPO preparation mode with Hong Kong as its preferred destination. However, a dual listing is not out of the question.

It’s been almost two years since the Stock Exchange of Hong Kong (HKG) permitted the public listing of biotech issuers without a track record of profitability. To date, 14 companies in that sector have taken the plunge, of which nine listed in 2019.

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