CNBC·4 min read·hard
Why one U.S. biotech firm is listing in Hong Kong before Wall Street
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Elaine Yu, Anniek Bao
✦AI Summary
Axiom Biosciences, a U.S.-based biotech firm, plans to list its shares in Hong Kong before the U.S. to access specialized investors and a mature biotech market. The company cites the city's strong performance in biotech indices as a key driver for this contrarian strategy.
For years, Chinese companies such as Alibaba and Baidu headed to the U.S. to list their shares, citing its deeper capital markets and higher valuations. Now, one American biotech firm is betting on doing the opposite.
businesseconomy
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