Jiangsu ASK Pharma Postpones ChiNext IPO
1/13/2014 1:00:24 PM
by Richard Daverman, PhD
January 13, 2014 -- Jiangsu Aosaikang Pharmaceutical has temporarily delayed its imminent IPO, after the price was set. The transaction was scheduled to raise 4 billion RMB ($669 million), which would have made it the largest IPO ever for the ChiNext exchange. According to the company, it postponed the IPO because the offering was “relatively large,” though regulators may have forced the move. The transaction was priced at 67 times trailing earnings, against a ChiNext average of 55. The dramatic delay is a setback for China’s new IPO rules – no matter who decided to put Aosaikang’s debut on hold. More details....
Stock Symbol: (SHE: 300361)
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