GIC-backed Chinese biopharma firm CStone raises $285m in HK IPO

GIC-backed Chinese biopharma firm CStone raises $285m in HK IPO

REUTERS/Bobby Yip/File Photo

CStone Pharmaceuticals, a Chinese biopharma firm backed by Singapore’s sovereign wealth fund GIC, has raised HK$2.2 billion ($285 million) in its initial public offering (IPO) in Hong Kong after selling 186.4 million shares at HK$12 apiece.

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