sinopharm-sets-price-range-for-113-billion-ipo

Sinopharm sets price range for $1.13 billion IPO

The Chinese distributor of pharmaceutical products will be the first company to take orders for a Hong Kong listing after the summer and has set the price range at HK12.25 to HK$16 per share.

Sinopharm, the largest distributor of pharmaceutical products in China, will be the first company to start accepting orders for a Hong Kong initial public offering when it kicks off its roadshow today. It is getting a head start on the five companies that are currently engaged in investor education and several others that are expected to follow in the weeks ahead.

The state-owned company will seek to raise between HK$6.68 billion and HK$8.73 billion $862 million to $1.13 billion after sources said it has set the price range at HK$12.25 to HK$16 per share. This will make it the second largest Hong Kong IPO this year after aluminium extrusion company China...

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