morgan stanley private equity asia

The private equity arm of Morgan Stanley invests in a Chinese specialty chemicals company that is looking to expand globally.

The Chinese manufacturer of cardio-cerebral vascular drugs raises $741 million by pricing its shares at 26.7 times next year's earnings, making it the most expensive new stock to list in Hong Kong this year.

The management buyout, which has been accepted by shareholders owning 96% of the company, values Sihuan Pharmaceutical at $318 million – although only $74.4 million of new capital is needed.

Morgan Stanley's Asian private equity arm aims to acquire Japan's Ten Arrows for $105 million via a management buyout.

Morgan Stanley hires ICICI Venture director Alluri Srinivasa Rao to run private equity investing in India, while ICICI Venture lures KS Jangbahadur back from JPMorgan in the US.

The firm intends to build investment teams for Japan, India and Australia for the new $1.5 billion fund.

Morgan Stanley Private Equity Asia makes first investment in Taiwan spending around NT$2.05 billion ($64 million) to acquire 19.9% stake in the country's leading engineering, procurement and construction company.

Ex-Morgan Stanley banker based in Hong Kong will lead mainland private equity business.