Source: China – South China Morning PostShares of Guangzhou Innogen Pharmaceutical Group soared on their Hong Kong debut, buoyed by strong investor appetite for China’s pharmaceuticals sector, which has enjoyed rising valuations and solid performance.
Trading under the stock code 2591, Innogen’s shares first changed hands at HK$72 on Friday, almost four times more than the initial public offering (IPO) price of HK$18.68 despite a declining market. The city’s benchmark Hang Seng index opened almost 1 per cent lower.
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