Simcere To Stage $1 Billion Hong Kong IPO
Published: Jan 08, 2016
Simcere Pharma, a Nanjing company that makes branded generic and innovative drugs, is planning a $1 billion IPO on the Hong Kong exchange. The company was taken private from the NASDAQ exchange two years ago at a valuation of $495 million. Because Simcere has not yet released details of its offering, its present valuation is not known. The Hong Kong Exchange requires a listing company to offer at least 25% of its shares in an IPO, which puts Simcere's maximum valuation at $4 billion.