IFC to anchor Fosun Pharma’s Hong Kong IPO
International Finance Corporation (IFC), the investment arm of the World Bank, is expected to anchor Shanghai Fosun Pharmaceutical’s Hong Kong IPO alongside Prudential Financial. The total cornerstone commitment is $75 million out of a targeted $600 million offering.
Fosun Pharma, which is already listed in Shanghai, plans to sell 336 million shares at HK$11.80-13.68 apiece. At the low end of the range, this would be equivalent to 14.5x estimated 2012 earnings and...
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