Alibaba’s Hong Kong-listed shares surged on Monday after the company was included in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, opening up access for mainland Chinese investors. This move is expected to significantly boost liquidity and broaden the investor base for Alibaba shares.
Despite facing a challenging market environment, Chinese drug developer Sunho Biologics Inc. has received approval for an initial public offering (IPO) to secure funding for its research and development efforts. However, the company’s dependence on external financing and lack of revenue present potential risks for investors. Sunho Biologics aims to raise approximately $50 million through the IPO, which will be allocated towards completing clinical trials for its core products.
