Sihuan Pharmaceutical aims to raise $740 million in Hong Kong IPO

If successful, this will be the second Chinese medical company in the past month to transfer listings from another stock exchange to Hong Kong.

Sihuan Pharmaceutical, a Chinese manufacturer of cardio-cerebral vascular drugs which delisted from Singapore Exchange SGX last year, started bookbuilding yesterday for a Hong Kong public offering.

The company, which is based in the southern China province of Hainan, aims to raise up to HK$5.75 billion $740 million to fund the expansion of its product portfolio and its sales and marketing network. If successful, it will be the second Chinese medical company in the past month to transfer listings from another stock exchange to Hong Kong. China Medical System, a pharmaceutical product marketing group, delisted from London’s Alternative Investment Market AIM in September and raised $129 million ahead of a Hong Kong listing in...

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