Chinese prostate, breast cancer drugs maker Kintor’s IPO more than 500 times oversubscribed as Hong Kong biotech investment fever continues

Cancer drugs developer Kintor Pharmaceutical saw its HK$1.86 billion (US$240 million) initial public offering heavily oversubscribed as investors continued to bet on biotech start-ups hitting the jackpot with innovative, high-demand medicines, sources close to the deal said.Kintor has attracted subscription commitments of more than 500 times the 9.2 million shares offered to retail investors, while 92.3 million shares offered to international investors were “heavily oversubscribed”.It is the…