BGI's Shenzhen IPO Rejected By China Regulators
Published: Nov 04, 2016
The latest IPO proposal from BGI, China's giant genomic sequencing company, was rejected by Shenzhen's Chi-Next Exchange, according to a report from ChinaMoneyNetwork.com. The problem? Insufficient documentation. In December 2015, BGI submitted an application to IPO two of its merged divisions: BGI Dx (pre-natal genomic testing) and BGI Tech (contract sequencing). The company hoped to raise $260 million at a valuation of $3 billion.