Singapore biotech firm Mirxes launches IPO in Hong Kong to raise HK$1 billion

businesstimes

05-15

[SINGAPORE] Singapore biotech start-up Mirxes launched its initial public offering (IPO) in Hong Kong on Thursday (May 15) as it seeks to raise HK$1.09 billion (S$181 million) to further grow the ...

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The product is the world’s first approved molecular blood test for early detection of gastric cancer. Start and end each day with the latest news stories and analyses delivered straight to your inbox.Approximately HK$211 million will be channelled towards research and development for the company’s products.Another HK$132.1 million will be used to strengthen and integrate Mirxes’ end-to-end capabilities to capture its value chain’s commercial potential. The remaining HK$88 million will be used for the company’s working capital and other general corporate purposes.Beijing Xunrui Enterprise Management Partnership has agreed to subscribe to shares equivalent to US$50 million while Evergreen Gate, a subsidiary of Fosun International, will subscribe to US$7.92 million worth of shares. China International Capital Corp and CCB International Capital are the joint sponsors and bookrunners for the IPO.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}