by Richard Daverman, PhD
October 24, 2012 -- Shanghai Fosun Pharma priced its Hong Kong IPO at the bottom of the announced price range, giving the transaction a value of $512 million – it was expected to raise $600 million. The price is a 13% discount from the shares on the Shanghai exchange. The offering was over-subscribed by a factor of two, but many of the institutional investors put in their bids at the bottom of the range, keeping a lid of the price. If the underwriters’ overallotment is exercised, the IPO will raise an additional $76.7 million. More details....
Stock Symbols: (SHA: 600196; HK: 2196)
