CR Pharma seals $1.8b Hong Kong IPO

After the successful deal, China Resources Group has now listed six of its subsidiaries in Hong Kong.

CR Pharma seals $1.8b Hong Kong IPO

China Resources Pharmaceutical Group raised HK$14 billion $1.8 billion from Hong Kong’s second biggest initial public offering this year, pricing the share sale near the bottom end of the guidance before trading opened on Friday.

The Chinese pharmaceutical firm, also known as CR Pharma, managed to pull together a final order book of about two times the deal size across both institutional and retail tranche, according to bankers. There was no clawback for...

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