Jinhe Biotech Stages a $78.6 Million Shenzhen IPO  
7/17/2012 11:01:32 AM

by Richard Daverman, PhD

July 16, 2012 -- Jinhe Biotechnology, located in Inner Mongolia, raised 490 million RMB ($78.6 million) in an IPO on the Shenzhen Small and Medium exchange. The company placed 27 million A shares of common stock at a price of 18 RMB each, according to filings. Jinhe makes antibiotics that are administered to livestock as feed additives. In 2011, the company reported operating income of $113 million and net profit of $12 million. More details....

Stock Symbol: (SHE: 002688)