Sinopharm IPO already 25x oversubscribed, GBI
Release Date: 2009-09-10
China National Pharmaceutical Group (Sinopharm) has attracted institutional orders worth USD 28 billion during bookbuilding for its initial public offering (IPO), chinese.wsj.com reported September 9.
Sinopharm plans to go public on the Hong Kong Stock Exchange September 23 and will issue 545.7 million shares for HKD 12.25 to HKD 16 per share in an effort to raise USD 1.12 billion. The amount of shares offered will equate to a 25% stake in the company.
| Type: | NORMAL |
| Company: | GBI |
| Country: | China |
| Url: | http://www.gbipharma.com/cpbheadline.asp?newsid=2010545 |