Shares of Duality Biotherapeutics (9606.HK) soared an impressive 114.59% in their Hong Kong stock market debut on Tuesday, showcasing strong investor enthusiasm for the Chinese biotech company. The dramatic surge came as the stock opened at HK$181 per share, nearly double its initial public offering (IPO) price, and climbed further to HK$200 in early trading.
The company's successful listing follows its recent global offering, which set the final offer price at HK$94.60 per share. Duality Biotherapeutics managed to raise approximately $213 million through its IPO, a significant achievement considering the offering was launched amid market turbulence caused by reactions to U.S. tariffs.
The strong debut of Duality Biotherapeutics suggests robust investor confidence in the company's prospects and the broader Chinese biotech sector. This successful IPO and the subsequent stock price surge may encourage other companies in the industry to consider public listings, potentially stimulating further growth in the sector. As trading continues, investors and analysts will be closely watching to see if Duality Biotherapeutics can maintain its momentum in the highly competitive and fast-evolving biotech landscape.
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