China: Keymed Bio trades up after pricing HK IPO at top of marketed range

China-based biotechnology company Keymed Biosciences priced its HK$3.1bn (US$400m) initial public offering on the Hong Kong Stock Exchange at the top end of its indicative price range of HK$50.50 to HK$53.30. Trading in the shares began on July 8 and prices have subsequently risen to around the HK$70 level. Books were well covered and supported…