China’s healthcare and biotech firms are capitalising on a surge of interest in the sector due to the coronavirus pandemic by raising a record $6.8 billion in fresh equity-linked transactions this year julie_zhuli GeniusWu
HONG KONG - China’s healthcare and biotech firms are capitalising on a surge of interest in the sector due to the coronavirus pandemic by raising a record $6.8 billion in fresh equity-linked transactions this year.
“Because of the epidemic outbreak, the biotech, healthcare industry has been valued more by everyone. People realise that no matter what the economy looks like, patients always need to see the doctor,” said Xia Yu, co-founder and CEO of Chinese biotech firm Akeso Inc 9926.HK. Loyal Valley has been looking into investment in vaccine- and testing-related companies and encouraged portfolio firms like Shanghai Junshi Biosciences to expand into businesses related to tackling the coronavirus, he said.
“It is really the scarcity value. Healthcare right now is probably the most active sector ,” said Cathy Zhang, a managing director at Morgan Stanley and head of healthcare for Global Capital Markets in Asia.HEAVILY OVERSUBSCRIBED As well as IPOs, investment banks including JPMorgan and Morgan Stanley are looking to already-listed groups to raise further funds via follow-on share sales and convertible bonds.
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