Mitsui-backed Chi-Med, listed in the UK since 2006, will put the money towards advancing its seven clinical-stage drug candidates.
Hutchison China MediTech (Chi-Med), a China-based biopharmaceutical company, plans to float in the US in an initial public offering that could be sized at up to $115m.
Chi-Med intends to issue approximately 6.1 million American depositary shares, each representing half a normal share.
Since 2006, the company has been listed on the Aim market in the UK, where its shares are priced at £23.07 ($32.82) at time of publication, meaning an equivalently priced IPO would raise almost $100m.
Chi-Med is…
