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Sinocom Pharma Withdraws Nasdaq IPO

publication date: Oct 14, 2011
Sinocom Pharmaceutical withdrew its plans for an IPO on the Nasdaq exchange, blaming poor market conditions. Sinocom is a drug distributor in East-Central China that has expanded to growing TCM herbs. The shares were being offered by selling shareholders, who received them as part of a $15 million financing that allowed Sinocom to build a warehouse. The company planned to raise as much as $58 million. More details....

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