Shanghai-based Mabwell Bioscience (SH: 688062) has revealed plans to pursue a secondary listing on the Hong Kong Stock Exchange, aiming to shore up its financial position.
The firm said the money would be used to support ongoing development and strengthen its global presence. Neither specific details regarding fundraising targets, nor a timeline for the listing, were disclosed.
Mabwell went public nearly three years ago, listing on the Shanghai STAR market. At its initial public offering, the company raised 3.3 billion renminbi ($452 million). Modeled on the Nasdaq, STAR was established to support high-growth potential innovators.
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