Shaanxi Kanghui Pharmaceutical raised $52 million in a Shanghai exchange IPO. Founded in 2009 and headquartered in Xianyang, Kanghui has developed more than 100 products in a number of therapeutic areas. The company recorded a 2016 operating profit of $10 million on revenues of $55 million. Kanghui makes 16 exclusive products, which it sells to more than 2,000 China hospitals, and owns 19 patents. The online portion of the IPO received offers for almost 4000 times the number of shares available.
