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Simcere to Stage $1 Billion Hong Kong IPO

publication date: Jan 7, 2016
Simcere Pharma, a Nanjing company that makes branded generic and innovative drugs, is planning a $1 billion IPO on the Hong Kong exchange. The company was taken private from the NASDAQ exchange two years ago at a valuation of $495 million. Because Simcere has not yet released details of its offering, its present valuation is not known. The Hong Kong Exchange requires a listing company to offer at least 25% of its shares in an IPO, which puts Simcere's maximum valuation at $4 billion. More details....

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