AsianScientist (July 17, 2017) – BGI Genomics, an independent division of BGI Group, has raised US$250 million with its initial public offering on the Shenzhen Chi-Next exchange, China’s NASDAQ-style board of growth enterprises, of the Shenzhen Stock Exchange.
A total of 40.1 million shares at a list price of RMB 13.64 (~US$ 2.02) per share were released. The shares began trading on July 14 under the code 300676.
The IPO was approved by the China Securities Regulatory Commission (CSRC) in May. BGI Genomics’ IPO prospectus was first announced on the CSRC website in December 2015 and was updated in March 2017.
For the listing ceremony, BGI Genomics invited a group of patients and caregivers to ring the opening bell, signifying the successful launch of BGI Genomics in the Chinese capital market. The event marks a major step for BGI Genomics towards realizing its vision of “Trans-omics for a better life.”
“In the genomics field, we aim to dominate the market, creating a bright future for all by bringing both social and economic benefits,” BGI Genomics’ President Wang Jian said in his opening statement at the IPO ceremony. “Benefitting from our innovations in scientific research, the industry will become more active; by serving people’s lives as the starting point, the industry will also become more competitive and scalable.”
Wang, who co-founded BGI Group in 1999, vowed not to sell any of his holdings in the next five years, adding he would remain invested over the long term to drive the goal of reducing gene-related disabilities in China.
“This IPO is a historic day for BGI,” said Mr. Yin Ye, CEO of BGI Genomics. “The capital raised will allow us to invest in the development of new services, top talent and lab infrastructure to benefit our global customers and to support our continued growth and innovation.”
Source: BGI Genomics; Photo: Shutterstock.
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