(Dec 30): Insilico Medicine Cayman TopCo, an AI drug discovery startup, jumped in its trading debut in Hong Kong as the financial hub capped its busiest month for listings in six years. They were priced at HK$24.05 (RM12.54) apiece in an initial public offering that raised US$293 million (RM1188.12 million). Insilico’s debut adds to Hong Kong’s busiest month for first-time share sales since November 2019, according to data compiled by Bloomberg. It was said to have weighed an IPO in the US in 2021 and had filed for a Hong Kong listing in 2023 and again in 2024, though applications for an offering in the Asian financial hub were allowed to lapse. Proceeds from the Hong Kong IPO will be used to fund clinical research and development of the company’s key clinical-stage pipeline drug candidates and to develop new generative AI models, among other things.

Source: The Edge Markets December 30, 2025 05:23 UTC