China’s Walvax Biotech Withdraws Hong Kong IPO – Caixin

Walvax Biotechnology has announced it will terminate its plan for a Hong Kong initial public offering, Caixin reported, with the company citing market conditions and business development plans.

The Kunming-based company also said it would expand its pneumonia vaccine production capacity with an investment of 695 million yuan ($109.2 million).

Read the full report: Caixin.

SEE MORE:

Beijing Biotech Firm Banks on GM Corn in Bid to be China’s Monsanto

Covid Jab Maker Clover Raises $240m in IPO

Hong Kong biotech could thrive in Covid crisis

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

You Might also Like

US Election: China's Export Stocks, Yuan May Fall if Trump Wins

China Sues EU Over EV Tariffs But Trade War Unlikely

Meta Hit With $15m Fine From South Korean Data Watchdog

US Chipmaker Fined $500,000 for Chips Sent to China - NYT