China’s VC-backed CanSino raises $748m in Star Market IPO
Chinese vaccine developer CanSino Biologics, which counts Lily Asia Ventures (LAV) and Qiming Venture Partners among its investors, has raised RMB5.2 billion ($748 million) in an IPO on Shanghai’s Star Market.
CanSino sold 24.8 million shares at RMB209 apiece, with the portion allocated to public investors in an online subscription nearly 3,000 times oversubscribed. The stock opened at RMB470 on August 13 before...
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