Luye shareholders raise $100m from block

GIC, CDH Capital and New Horizon raised $100 million after selling a combined 50% stake in the Chinese pharmaceutical company.

Luye shareholders raise $100m from block

Luye Pharma, which held one of last year's most successful flotations in Hong Kong, has completed its first block trade, netting three of its pre-IPO investors $100 million.

The Government of Singapore Investment Corporation, also known as GIC, and private equity firms CDH Capital and New Horizon collectively sold 86.2 million shares at HK$9.00 per share under the joint leads of UBS and Morgan Stanley.

The shareholders had...

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