Chinese drugstore climbs on US debut
China Nepstar raises $334.1 million after pricing its IPO 20% above the range - the maximum allowed on a US offering.
China Nepstar Chain Drugstore had a solid debut on the New York Stock Exchange on Friday after pricing its initial public offering 20% above the original price range, suggesting that the demand for Chinese growth stocks continues. The final price allowed it to raise $334.1 million, making it the third largest US IPO by a private-sector Chinese company this year.
The debut was keenly watched after Chinese upstream agricultural solutions company Agria Corp tumbled 26.9% on its first day of...
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