Tigermed Completes $80 Million IPO on the ChiNext Exchange

by Richard Daverman, PhD

August 17, 2012 -- Hangzhou Tigermed Consulting Co., a clinical-stage CRO, staged its IPO today on Shenzhen’s ChiNext exchange. The IPO, which constitutes 25% of the company’s outstanding stock, placed 13.40 million shares in investors’ hands at a price of 37.88 RMB, a price/earnings ratio of 44. The transaction raised 508 million RMB ($80 million) for the company. Tigermed ended its initial trading day at 50 RMB, an increase of 32% for the IPO investors. At that price, the company has a market capitalization of $420 million. More details....