Pharmaron hits road with $588m HK IPO

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By Jonathan Breen
12 Nov 2019

Pharmaron Beijing Co, a pharmaceutical research and development service platform, has launched its Hong Kong SAR flotation, aiming to raise up to HK$4.6bn ($587.8m), said a source familiar with the matter.

After a week of pre-marketing, joint sponsors CLSA, Goldman Sachs and Orient Capital opened bookbuilding for the IPO on Tuesday morning in Hong Kong.

The Chinese company is eyeing a post-listing market capitalisation of between HK$26.8bn and HK$30.7bn. It will float 15% of its enlarged share capital.

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