Market Chatter: Baidu-backed BioMap Confidentially Files for Hong Kong IPO

MT Newswires Live

Mar 17

Baidu-backed (HKG:9888) life sciences startup BioMap Beijing Intelligent Technology confidentially filed for a Hong Kong listing to raise hundreds of millions of dollars this year, Bloomberg News reported Monday, citing people familiar with the matter.

The firm is working with China International Capital, Morgan Stanley and UBS Group on the planned offering, the people told the news agency.

The report cautioned that deliberations were ongoing and details such as size and timing could change.

BioMap and CICC did not respond to requests seeking comment, while Morgan Stanley and UBS representatives declined to comment on the matter, Bloomberg said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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