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Fosun Prices Hong Kong IPO at Bottom of the Range


10/25/2012 9:32:30 AM

by Richard Daverman, PhD

October 24, 2012 -- Shanghai Fosun Pharma priced its Hong Kong IPO at the bottom of the announced price range, giving the transaction a value of $512 million – it was expected to raise $600 million. The price is a 13% discount from the shares on the Shanghai exchange. The offering was over-subscribed by a factor of two, but many of the institutional investors put in their bids at the bottom of the range, keeping a lid of the price. If the underwriters’ overallotment is exercised, the IPO will raise an additional $76.7 million. More details....

Stock Symbols: (SHA: 600196; HK: 2196)


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