China Resources Pharma Plans $1 Billion Hong Kong IPO
Published: Feb 09, 2016
China Resources Pharmaceutical Group, China's second largest pharma and a subsidiary of state-owned China Resources (Holdings), is planning an IPO in Hong Kong that will raise at least $1 billion, according to media reports. At least two of CR Pharma's subsidiaries are already listed on China's exchanges. The offering is still in the early stages of planning, as CR Pharma has asked investment bankers to submit proposals by February 16, so details of the transaction are not yet available.