Warburg Pincus has raised $241.5 million following a share sale in China Biologic Products.
The US private equity firm saw its stake decrease from 44.2% to 34% after the sale, according to a source close to the deal.
The sale in the Nasdaq-listed biopharmaceutical company has been marketed for the past few days in the US, which contributed to a decline in share price performance. After hitting $120.85 per unit on June 3, shares fell by 13% up to June 10.
Sources close to the deal note that it’s very typical for a drop in performance before a share-sale in the US....