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Luye Pharma Trades Higher Following IPO in Hong Kong

publication date: Jul 10, 2014
Luye Pharma of China capped off a successful Hong Kong IPO with a strong first day of open-market trading, rising 12% to close at HK$6.65. In 2012, the company had been privatized at a valuation of $500 million, which means the IPO produced a 5X return for the investors. Because the IPO went so smoothly, it showed that Hong Kong is once again an attractive venue on which to list stable, growing China pharmas. More details....

Stock Symbol: (HK: 2186)

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