China's Tasly to list biotech arm in HK

Hong Kong

CHINA'S Tasly Pharmaceutical Group is planning to list its biopharma unit in Hong Kong to raise about US$1 billion, in what is likely to be the largest biotech float in the city this year, people with knowledge of the matter said.

The plan comes as Hong Kong Exchanges and Clearing, the city's exchange operator, is proposing changes to its listing rules to woo early-stage drug developers.