China's Ab&B Bio-Tech shares soar 170% driven by retail demand

Ab&B Bio-Tech, a Chinese vaccine firm, witnessed a remarkable stock market debut in Hong Kong. Shares soared almost 170% after its initial public offering. The IPO raised $55 million. Retail investors heavily oversubscribed, nearly 4,000 times. Strong retail demand led to reallocation of shares. However, institutional demand remained weak. The company develops influenza and rabies vaccines.