Show of strength for CR Pharma as $2bn IPO launches

pharma
By John Loh
13 Oct 2016

China Resources Pharmaceutical Group’s HK$15.7bn ($2.0bn) Hong Kong IPO got off to a flying start this week, with books covered and support from high profile cornerstone investors giving it momentum.

The drug manufacturing arm of state-owned China Resources National Corp opened books on Thursday, marketing 1.54bn shares in the base deal at HK$8.45-HK$10.15 each. All the shares are primary and will make up 25% of its enlarged share capital. There are 231.5m greenshoe shares, also primary.

On a pre-shoe ...

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