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Sinocom Pharma Plans $58 Million IPO on Nasdaq

publication date: May 6, 2011
Sinocom Pharmaceutical, a distributor of pharmaceutical products to third and fourth tier cities in Central-Eastern China, announced it will conduct an IPO on the Nasdaq Global Market exchange. The company plans to offer 15.8 million shares from selling stockowners, representing about 18% of the firm’s capitalization. In 2009, the selling shareholders received the stock for investing $15 million in Sinocom, which the company used to build a warehouse. The company hopes to raise as much as $57.5 million in the offering, implying a price of $3.64. More details....

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