All smiles as dental firm trades 50pc higher

Business | Avery Chen 11 Jun 2021

Shares of mainland dental braces maker Angelalign Technology were trading at a 50 percent premium in the over-the-counter market, mainland media reported.

Angelalign Technology reportedly priced its initial public offering at HK$173 apiece, the top end of the indicative price range after its retail rance was 2,000 times oversubscribed. It is seeking to raise up to HK$2.91 billion

Meanwhile, US neurological drugmaker Biohaven Pharmaceutical is considering spinning off its APAC business in Hong Kong to raise between US$200 million (HK$1.56 billion) and US$300 million as soon as this year, IFR Asia reported.

The Shanghai-based subsidiary, BioShin, holds rights to the Biohaven portfolio for all of the Asia-Pacific region excluding Japan. It raised US$60 million in series A financing round led by OrbiMed last September.

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