Consumer Sector Investor Tian Tu Capital Eyes Hong Kong IPO

Tian Tu Capital files for a Hong Kong listing under the shadow of a sluggish Chinese retail market Key Takeaways: Tian Tu Capital, which invests in consumer businesses such as food and drink brands, reportedly aims to raise $500 million on the Hong Kong Stock Exchange However, economic turbulence from the Covid pandemic has buffeted the company, sending profits from continuing operations tumbling nearly 40% last year By Ken Lo With storm clouds hanging over China’s retail landscape, would it make economic sense to invest in a financial company whose…

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FAST NEWS: Legend Biotech Terminates New Drug Trial Lacking Clinical Benefit

The latest: Legend Biotech Corp. (LEGN.US), a cell therapy subsidiary of Genscript Biotech Corp. (1548.HK), has terminated its Phase 1 Clinical Trial under the Investigational New Drug (IND) application for LB1901, due to the lack of clinical benefit from a similar product candidate. Looking up: Terminating clinical trials of new drug that lacks clinical benefit can allow the company to prioritize its limited R&D resources to other product candidates in the pipeline. Take Note: Dropping any product in a drug company’s pipeline is always a setback because it means the company will lose…

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Jianzhi Bets on Education Stock Renaissance with New York IPO

Instructional materials provider sets price range and $34.5 million fundraising target a year after first filing for a New York listing Key Takeaways A year after first filing for a New York IPO, Jianzhi Education has set a price range of $5 to $7 and a $34.5 million fundraising target for the listing The listing would come after a strong trading debut for another Chinese education firm, indicating investor interest could be returning to the group after a major crackdown last year By Doug Young Could a new dawn be…

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