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Shanghai Pharmaceuticals completes $1.99bn IPO on HKSE
30 Apr 2012
After months of speculation as to the offering size and price, China's second-largest drug distributor Shanghai Pharmaceuticals Holding Co. Ltd. has netted HKD15.5bn ($1.99bn)--including the overallotment--in an IPO on the Hong Kong Exchange, making it the second-biggest pharmaceutical IPO to date. In the global offer, the company sold approximately 696mm shares--representing over 25% of the company’s enlarged issued share capital--at HKD23.00. The anticipated range was HKD21.80-26.00.
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