3SBio Inc. Sets Target Of $712 Million For Hong Kong IPO

3SBio, a China biopharma based in Shenyang, announced it will seek to raise up to $712 million in its Hong Kong IPO, scheduled for early June. The transaction values 3SBio at up to $2.85 billion. That is seven times the company's value when it was taken private from the NASDAQ exchange in the US two years ago. CITIC Private Equity, which helped to fund the privatization, will offer 20% of the offered shares ($176 million), while the rest will be issued by 3SBio.

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