| Simcere Pharmaceuticals eyes US$150 mln from NYSE IPO |
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issue time:2007-03-10 08:12
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Feb. 5, 2007 (China Knowledge) – Simcere Pharmaceuticals, a Nanjing-based medicine maker, is planning an IPO that could raise up to US$150 million on the New York Stock Exchange (NYSE) this year.
Hony Capital, a private equity unit of Legend Holdings, paid US$27 million for a 31% stake in Simcere in September 2005. Goldman Sachs, which is arranging the stock offering, also owns part of the company.
One of Simcere's rivals, Wuyi International Pharmaceutical, raised US$103 million from an IPO in Hong Kong last month. Its shares, whose trading debut was on Thursday last week, gained 18% in the first two days of trading.
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