Chinese biotech Ascletis rallies in HK debut, in test of new market rules
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HONG KONG (Reuters) - Shares in Chinese biotech company Ascletis Pharma Inc rose as much as 6.4 percent on their debut in Hong Kong on Wednesday, in the first such listing in the city under new rules designed to attract drug developers.The initial public offering (IPO) is seen as a test of the new regime as Hong Kong seeks to establish itself as a financing centre for the growing number of Chinese biotechs. A successful float by Ascletis is thought likely to encourage fellow biotechs to pursue..