HutchMed Completes $537 Million Hong Kong IPO for Oncology Drugs

On June 30, 2021 HutchMed, a Shanghai novel drug company, reported that it completed a $537 million IPO on the Hong Kong exchange, its third global listing (Press release, Hutchison China MediTech, JUN 30, 2021, View Source [SID1234584540]). The company is also listed on London’s AIM exchange and NASDAQ. HutchMed (formerly Hutchison Chi-Med) has three novel approved oncology drugs in China, and it has seven more candidates in development. Following the IPO, its shares rose 20% ($6.49) to $40.02 in early trading on NASDAQ, giving the company a market capitalization of $6 billion.

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