CDH-Backed Drug Developer Innorna Is Said to Plan Hong Kong IPO

Innorna Co., a Chinese developer of messenger RNA drugs backed by buyout firm CDH Investments, is planning an initial public offering in Hong Kong, according to people familiar with the matter.

The company is working with China International Capital Corp. and Jefferies Financial Group Inc. on a potential share sale that could take place as soon as next year, the people said, asking not to be identified because the information is private. Innorna could raise about $200 million in the IPO, one of them said.

Details of the offering such as size and timing are still preliminary and subject ...