Taikang and WuXi-backed CStone Pharmaceuticals has priced its shares near the middle of its proposed range to raise $285m in proceeds at a valuation of $1.5bn.
CStone Pharmaceuticals, a China-based biopharmaceutical company backed by insurance provider Taikang and pharmaceutical research firm WuXi PharmaTech, yesterday priced its initial public offering and raised HK$2.2bn ($285m).
CStone has achieved a valuation of $1.5bn after selling 18.6 million shares to Hong Kong-based investors and more than 167 million shares to international backers at $1.50, at the middle of its range of $1.40 to $1.60.
The company will begin trading on the Hong Kong Stock Exchange today.
Founded in 2016, CStone…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
