Shanghai Henlius Biotech, backed by Chinese conglomerate Fosun International (0656.HK), launched on Wednesday its Hong Kong IPO of up to $477 million, a term-sheet showed, the first sizeable float to test market sentiment amid the city’s political unrest.
The company, which started gauging investor demand on Aug. 26, is selling 12% of its enlarged share capital in the initial public offering at a price range of HK$49.6 to HK$57.8 ($6.33-$7.37), according to the term sheet seen by Reuters.
