Chinese biotech company BeiGene plunges on Shanghai debut | Malay Mail

📆 12/15/2021 7:21 AM
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BEIJING, Dec 15 — Chinese biotech company BeiGene Ltd plunged on its Shanghai debut today after raising US$3.5 billion (RM14.8 billion) in the biggest STAR Market listing this year. BeiGene, which posted consecutive years of losses, tumbled more than 15 per cent in early trading, after opening...

BEIJING, Dec 15 — Chinese biotech company BeiGene Ltd plunged on its Shanghai debut today after raising US$3.5 billion in the biggest STAR Market listing this year.

BeiGene’s Nasdaq-listed shares have tumbled nearly 20 per cent so far this month, as US securities regulators finalished rules to kick non-compliant Chinese companies off American exchanges in three years — a risk BeiGene flagged in its Shanghai share sale prospecutus. BeiGene’s Hong Kong-traded shares lost over 4 per cent today, having also tumbled one fifth this month.

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