Chinese Drugmaker Triples in HK’s Best Trading Debut This Year

Chinese drugmaker Guangzhou Innogen Pharmaceutical Group Co. tripled on its Hong Kong trading debut, scoring the best first-day performance among all companies that went public in the city this year.

Shares of Innogen, which focuses on diabetes and metabolic diseases, ended at HK$57.25 on Friday. That’s three times the price in its initial public offering, which raised nearly HK$683 million ($87 million).

Innogen’s main product, efsubaglutide alfa, belongs to a class of drugs known as GLP-1, which have widely been used around the world to treat diabetes and obesity. So far, the drug is only approved in China for diabetes ...