Yantai biopharmaceutical company lists on HK Stock Exchange

Yantai-based biotech innovator RemeGen made its debut on the Hong Kong Stock Exchange on Nov 9.

The company priced its IPO at HK$52.1 per share, with a market value of HK$24.92 billion, and raised a total of HK$3.99 billion.

RemeGen, headquartered in Yantai, East China's Shandong province, was established in 2008 and has R&D facilities in Beijing and San Francisco.

It is a biopharmaceutical company focusing on developing innovative biological drugs with independent intellectual property rights.

The company has developed a series of new drugs with independent intellectual property rights for autoimmune diseases, malignant tumors and other major human diseases.

Yantai is presently home to 50 listed companies. Up to September of this year, the city's listed companies have achieved direct financing of 200.05 billion yuan ($30.27 billion).