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Frontage, a US-China CRO, Completes $205 Million Hong Kong IPO

publication date: Jun 4, 2019

Frontage Holdings, a US-China CRO, raised $205 million in a Hong Kong IPO at a market capitalization of $820 million. It moved 4.5% higher on its first day of trading. According to Frontage, it will allocate 20% of the proceeds to meet increased demand, 40% for organic expansion; and approximately 30% for acquisitions. Frontage provides integrated research, analytical, and development services with operations in the US and China. Three cornerstone investors signed up for 41.5% of the total. More details....

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