Partial exit for PE investors as Luye Pharma raises $764m
CDH Investments, CITIC Private Equity, New Horizon Capital and GIC Private have made partial exits from Luye Pharma Group as the Chinese drug maker raised HK$5.91 billion ($764 million) through its Hong Kong IPO.
The company sold 999.6 million shares - of which 332.1 million were existing shares - at HK$5.92 apiece, the high end of the indicative range. Six cornerstone investors - Dragon Billion China Master Fund,...
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