WND company listed on HKEX

On June 12, Cutia Therapeutics held its listing ceremony, making it the fourth company in Wuxi New District (WND) to be listed on the Hong Kong Exchanges and Clearing (HKEX).

Cutia is a research and development-focused biomedical company specializing in dermatology with its headquarters located in WND in Wuxi, East China's Jiangsu province.

For the initial public offering, Cutia plans to raise HK$465 million ($59.45 million) and use the funds on advanced equipment and technology to improve production efficiency and quality.

As the first listed biomedical company from the district this year, Cutia has boundless potential, according to Cui Rongguo, Party secretary of WND.

"We expect Cutia Therapeutics to increase investment in the R&D of medical equipment and cutting-edge technology to enhance its product quality and brand influence, while simultaneously contributing to the development of WND's biomedical industry. As this is a mutually-beneficial partnership, the district will continue to provide the best possible business environment for enterprises to help fulfill their needs," Cui added.

Currently, WND is home to a total of 34 listed companies. In order to stimulate the growth of the local economy, the district will take new steps to provide training for key industry enterprises to encourage them to go public.