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Event Brief

3SBio spin-off Mandi targets IPO in Hong Kong

Mandi, backed by Alibaba Health, files for IPO in Hong Kong, focusing on hair-loss and weight-loss drugs.
WHO: Mandi
WHAT: Initial public offering (IPO)
WHEN: Nov 20, 2025 at 7:00 PM ET
WHERE: Hong Kong
WHY: To attract investors with market-leading products

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