Chongqing Fuan Pharma Makes Its Debut on ChiNext Exchange

March 22, 2011 -- Chongqing Fuan Pharmaceutical completed a ChiNext IPO, raising 1.4 billion RMB ($213.5 million). The company placed 33.4 million shares at a price of 41.88 yuan each, representing a P/E ratio of 46. Established in 2004, Fuan Pharma manufactures antibiotic APIs to GMP standards. In its first open market session, Fuan’s shares slipped 4% to trade at 40.33 yuan. Both the pricing and initial trading show that speculative fervor is cooling on the ChiNext Exchange. More details....

Stock Symbol: (SHE: 300194)