Clinical research firm Tigermed mulls Hong Kong listing

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Hangzhou Tigermed Consulting Co, a Chinese clinical research service provider, is considering a share sale in Hong Kong as soon as next year, according to people familiar with the matter.

The Shenzhen-listed company is in talks with potential advisers for the share sale, which could raise about $500 million to $700 million, the people said, asking not to be identified because the matter is private. A Hong Kong listing could diversify the research firm’s investor base and raise funds for possible acquisitions, the people said.

Founded in 2004, Tigermed provides health-care companies services such as clinical trials, evaluation of generic drugs as well as statistical analysis, according to its website. It listed its U.S. subsidiary Frontage Holdings Corp. in Hong Kong in May.

Health-care companies in China are seeking to list in Hong Kong after the city’s stock exchange eased its listing rules to allow unprofitable biotech firms to go public. Among them, Pharmaron Beijing Co. has announced plans for a Hong Kong share sale.

Deliberations are at an early stage, and details of the offering including timeline and fund-raising size could still change, the people said. A representative for Hangzhou-based Tigermed didn’t respond to requests for comment.

Bloomberg

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.