Chi-Med covers $100m Nasdaq IPO as leads target US

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By John Loh
10 Mar 2016

Hutchison China MediTech’s (Chi-Med) $100m IPO on the Nasdaq was oversubscribed three days into bookbuilding, even as bankers pinned their hopes on a select group of US funds.

Joint global co-ordinators and joint bookrunners Bank of America Merrill Lynch and Deutsche Bank told investors on Wednesday that the deal was oversubscribed, and the listing was on track for pricing on March 16.

Chi-Med, the drug-making arm of Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa, opened books on ...

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