China’s biotech and pharma firm Pharmaron completes USD 589 mln IPO on HKEx
Nov 22, 2019 (China Knowledge) - China’s biotech and pharmaceutical firm Pharmaron Beijing Co., Ltd. has successfully raised HKD 4.6 bln (USD 589 mln) in its initial public offering (IPO) on the HKEx.
The company issued a total of 116.5 mln share at HKD 39.50 per share, with a total market capitalization of around USD 3.9 bln. The company floated its shares on the HKEx, with the price range between HKD 34.50 to HKD 39.50.
Founded in 2004, Pharmaron is a biotech and pharmaceutical company that manufactures and produces pharmaceutical compounds, chemical drugs, biological drugs, and other products. In addition, the company conducts research and development in the fields of biotechnology. Pharmaron currently has operations in China, U.S. and the U.K., with a total of 7000 employees.
Pharmaron had recently completed its initial public offering (IPO) on the SZSE in January this year. The company raised around RMB 503 mln (USD 71 mln) through the IPO, with its stock rising more than six-fold since then.
In H1 this year, Pharmaron recorded a revenue of RMB 1.64 bln and a net income of RMB 156.7 mln, up 30% YoY.
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