AI-powered biotech METiS TechBio debuts on Hong Kong stock exchange
METiS TechBio, a Hong Kong-listed biotech firm using AI to produce nano-rockets for drug delivery, made its stock market debut. The drug design start-up's CEO compared the company to SpaceX for the pharmaceutical industry. Shares first traded at HK$28.68, significantly above the offering price of HK$10.50. The IPO drew strong demand from retail and institutional investors, as AI-related stocks gain traction in Hong Kong amid a wave of Chinese hi-tech listings. Mike Leung Kit-man, director at Wocom Securities, noted that several AI-related IPOs have seen share prices multiply since listing.
Key facts
- METiS TechBio is a Hong Kong-listed biotech firm.
- The company uses AI to produce nano-rockets for drug delivery.
- CEO compared the start-up to SpaceX for the pharmaceutical industry.
- Shares debuted at HK$28.68, above the offering price of HK$10.50.
- Strong demand from retail and institutional investors.
- AI-related stocks are popular in Hong Kong.
- Wave of Chinese hi-tech companies listing in Hong Kong.
- Mike Leung Kit-man from Wocom Securities commented on AI IPO performance.
Entities
Institutions
- METiS TechBio
- Wocom Securities
Locations
- Hong Kong