HK-based buyout firm Baring to invest $100m in Chinese drug maker Hutchmed

HK-based buyout firm Baring to invest $100m in Chinese drug maker Hutchmed

Source: Michael Longmire/Unsplash

Hong Kong-based buyout firm Baring Private Equity Asia has agreed to purchase $100 million worth of shares in Hutchison China MediTech (Hutchmed), a US- and London-listed, commercial-stage, biopharmaceutical firm that aims to treat cancer and immunological diseases.

Baring, one of Asia’s largest private equity (PE) investment houses, plans to acquire nearly 3.28 million American depositary shares (ADS) in Hutchmed at $30.5 apiece through a private placement, according to a statement on Thursday.

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