Since the Hong Kong Stock Exchange (HKEX) made changes to
its listing rules in April 2018 in a direct attempt to appeal
to biotech companies, the jurisdiction has attracted 12 biotech
companies to list in Hong Kong SAR.
It’s a good start, but HKEX still has a lot of
work to do to catch up to the Nasdaq,
and Shanghai’s new technology and innovation
board is equally a threat. Market participants in Hong Kong
SAR point to a number of areas in which the jurisdiction could
improve to better attract listings and the considerations that
companies make when choosing whether and where to list. But at
the end of the day, when compared with the Nasdaq, HKEX still
lacks in market depth, which will take a considerable amount of
time to build up.
US remains top IPO destination despite
Biotech companies differ from others in that their