InnoCare Pharma launches IPO with cornerstone backing

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By Jonathan Breen
11 Mar 2020

Chinese biopharmaceutical firm InnoCare Pharma kicked off bookbuilding for its Hong Kong IPO on Wednesday, securing over half of the deal with cornerstone investors.

The company is aiming to raise HK$2.2bn ($288.4m) from an offer of 250.3m primary shares, equal to 20% of its enlarged share capital. It has split the stock 90%-10% respectively between international and Hong Kong public investors.

Sponsors Goldman Sachs and Morgan Stanley are marketing the float ...

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