October 24, 2012 at 08:05 AM EDT
Fosun Prices Hong Kong IPO at Bottom of the Range
Shanghai Fosun Pharma priced its Hong Kong IPO at the bottom of the announced price range, giving the transaction a value of $512 million – it was expected to raise $600 million. The price is a 13% discount from the shares on the Shanghai exchange. The offering was over-subscribed by a factor of two, but many of the institutional investors put in their bids at the bottom of the range, keeping a lid of the price. If the underwriters’ overallotment is exercised, the IPO will raise an additional $76.7 million. More details.... Stock Symbols: (SHA: 600196; HK: 2196) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});  
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