Argo Biopharma Is Said to Pick Banks for Hong Kong IPO

Chinese biotech firm Argo Biopharmaceutical Co. has picked banks for a Hong Kong initial public offering that could raise a few hundred million dollars, according to people familiar with the matter.

The Apricot Capital-backed company is working with Bank of America Corp., China International Capital Corp., Jefferies Financial Group Inc. and JPMorgan Chase & Co., the people said, asking not to be identified because the information isn’t public. It has filed confidentially for the IPO, they said, adding that details such as size and timing are still being discussed.

Argo Biopharma, Apricot Capital and CICC didn’t ...