News Snapshot:
Giant Biogene Holding Co. Ltd., China’s largest supplier of collagen-based skincare products, has filed for a Hong Kong IPO, joining the growing list of Chinese companies seeking to tap into global capital through the financial hub as they shy away from increasingly problematic US listings. The firm filed its prospectus to the Hong Kong Exchanges & Clearing Ltd. (HKEX) on Thursday, revealing that its revenue has grown for three consecutive years and increased by almost two thirds to 1.55 billion yuan ($232.5 million) in 2021 from 956.7 million yuan in 2019.
