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ShangPharma Accepts $9/ADS Go-Private Offer


12/27/2012 10:56:46 AM

by Richard Daverman, PhD

December 21, 2012 -- ShangPharma, a pre-clinical CRO headquartered in Shanghai’s Zhangjiang Hi-Tech Park, has agreed to a go-private offer of $9.00 per ADS. The offer was made by a group comprised of Michael Xin Hui, the company’s Chairman/CEO/Founder, and TPG, a US private equity group that has long been an investor in ShangPharma. Mr. Hui currently controls 54% of the company’s shares, while TPG still owns 11%. TPG will presumably fund at least some of the purchase of the remaining 35% of outstanding shares. The deal values ShangPharma at $173 million. More details....

Stock Symbol: (NYSE: SHP)


Read at ChinaBio Today


   

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