Chinese Biotech Zai Laboratory Lands on HKEX after 3 Years' Listing on Nasdaq
Zai Laboratory (ZLAB:Nasdaq) landed the Hong Kong Stock Exchange today, with an open price of HKD 613.5, 9.16% up from the issuance price of HKD 562. The second time the biotechnology hit a public market after the 2017 IPO on the Nasdaq market.
At the startup phase, the company received the investment from Sequoia, Qiming Ventures Taifu Captial. After two years, three investors continued to engage in the company's Series B fundraising of USD 106.2 million, together with Shangcheng Capital. As of July 1st, 2020, Qiming Ventures was the institutional equity holder with the most shares – 12.25% and the founder, Dr. Du Ying 4% shares.
The IPO bankroll, as much as HKD 6 billion, will help ease the Zai Lab's liquidity stress, expand the global business network and collaboration.