Move over, Hong Kong: Shanghai?s new tech board sees fervent demand for maiden biotech IPO

Days after taking off to a buoyant start, Shanghai?s STAR market ? China?s push to open up a new fundraising avenue for domestic fledgling tech companies ? has some good news to report about its biotech debutant.

Xianping Lu

Shenzhen Chipscreen Biosciences has priced its shares at RMB 20.43 ($2.96) per share in an oversubscribed IPO, the company said in a filing. That could translate to? RMB 1 billion, or almost $145 million, in IPO proceeds, with a valuation of $1.21 billion, according to a filing cited by Reuters.

For those who?s been following Hong Kong?s attempt to lure Chinese biotech startups away from the Nasdaq, though, Chipscreen?s real test might just be s