Drugmaker Hansoh is valued at $10 bln after pricing shares at the top of the range in its Hong Kong IPO: It looks like an early beneficiary of Beijing’s radical price reforms, says mak_robyn
Chinese drugmaker Hansoh Pharmaceutical Group has raised HK$7.9 billion in its Hong Kong initial public offering.
The company sold 551 million primary shares at HK$14.26 per share - the top end of the marketed price range. The deal values the company at $10.3 billion. As part of the listing, Hansoh secured nine cornerstone investors, including Singapore's sovereign wealth fund GIC and Chinese private equity firm Boyu Capital.
Citigroup and Morgan Stanley are joint sponsors for the IPO. The shares will start trading on June 14.
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