A sign for STAR Market, China's new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai on July 22, 2019. Photo: Reuters

Shanghai and Shenzhen stock markets are shaping up as viable rivals to Hong Kong in the race for the biotech IPO crown

  • Sixteen pre-profit biotech firms have raised a combined US$4.5 billion in Hong Kong since April 2018, compared with two listings on Nasdaq that raised US$264 million in the same period
  • Last year, Shanghai’s regulators allowed drug developers that have yet to earn a revenue or profit to raise funds on the Star market, followed recently by a similar green light on the ChiNext market in Shenzhen
Topic |   IPO
A sign for STAR Market, China's new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai on July 22, 2019. Photo: Reuters
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