Sinopharm Group, China’s largest drug distributor, has raised the maximum HK$8.73bn ($1.13bn) sought in a Hong Kong IPO after investors applied for almost 600 times the stock available to them, reports Bloomberg. Sinopharm sold shares at HK$16 apiece, the top end of a range marketed to investors. The Hong Kong part of the sale drew HK$500bn of demand, or 570 times the equity offered. Total orders for the IPO reached HK$884bn.

This entry was posted by Gwen Robinson on Thursday, September 17th, 2009 at 4:38 and is filed under Capital markets. Tagged with Sinopharm. Edit this entry.