Legend Holdings, Eli Lilly, Ping An, China Life and Taikang-backed Innovent Biologics priced its shares near the top of the range of to raise $421m.
Innovent Biologics, a China-based biopharmaceutical company that counts corporates China Life, Eli Lilly, Legend Holdings, Ping An and Taikang as investors, is raising $421m in its initial public offering, Reuters reported today.
The company is issuing 236 million shares priced at HK$13.98 ($1.78) each, near the top of the $1.60 to $1.80m range the company had set, people familiar with the matter told Reuters.
A total of 10 cornerstone investors including Sequoia Capital China, Value Partners Hong Kong and Prime Capital…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
