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China’s Jiangsu Aidea eyes Hong Kong listing as gateway to US and European Aids markets
Yangzhou-based drug maker views Hong Kong as a ‘good window’ for its international expansion in HIV and Aids treatments
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Kandy Wongin Yangzhou, Jiangsu
Jiangsu Aidea Pharmaceutical, which develops anti-HIV and Aids treatments, plans to tap Hong Kong’s initial public offering (IPO) market as it sets its sights on expansion into the US and Europe in the coming years, an executive said.
The company, listed on the Shanghai Stock Exchange’s Star Market, described Hong Kong as a “good window” for going global, citing the city’s “flexible” fundraising environment.
Many Chinese corporations – including those in the pharmaceutical sector – would consider Hong Kong’s IPO market amid tightening measures on refinancing for A-share companies, according to Liu Yan, director, board secretary and chief financial officer of Jiangsu Aidea, noting that Hong Kong’s IPO market had a record performance last year.
“Europe and the US are where Chinese pharmaceutical companies would like to go if they want to be internationalised,” Liu said at a meeting on Wednesday with Hong Kong media in Yangzhou city in China’s eastern Jiangsu province, where the company is based. “I think going through Hong Kong to reach out to the global market is a good choice.”
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