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.

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 the retail tranche, so the original split remained, with institutional investors getting 95% and retail accounts 5%.

Most of the deal was allocated to Chinese institutions and Asian funds, but a number...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222