CITIC PE completes $370m 3SBio take-private
Chinese biotechnology firm 3SBio will delist from NASDAQ after shareholders voted in favor of a privatization bid from a group led by the company’s CEO and CITIC Private Equity. The deal, which values 3SBio at $370 million, is the eighth successful PE-backed take-private of a US-listed Chinese company in the last two years.
According to a regulatory filing, shareholders agreed to an offer of $16.70 per share for all outstanding American Depository Shares (ADS). The buyers already owned approximately 18% of the company. ...
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