Chi­nese med­i­cine play­er Tasly con­sid­ers Hong Kong IPO for its biotech arm: re­port

The biotech arm of a high-pro­file tra­di­tion­al Chi­nese med­i­cine mak­er is re­port­ed­ly plan­ning a $1 bil­lion dol­lar IPO — ex­act­ly the kind of mon­ey reg­u­la­tors want­ed to see when they de­cid­ed to open up Hong Kong’s stock ex­change to pre-rev­enue biotechs. And it’s com­ing af­ter reg­u­la­tors in Chi­na sent sig­nals that they are con­cerned about over­heat­ed mar­ket con­di­tions on the ex­change.

Shang­hai Tasly Phar­ma­ceu­ti­cal — the whol­ly-owned sub­sidiary of Tian­jin-based and Shang­hai-list­ed Tasly Phar­ma­ceu­ti­cal Group — aims to be list­ed in the sec­ond half of 2018, sources told Reuters. The firm is work­ing with ad­vis­ers on the pro­posed share sale, though de­tails on the val­u­a­tion, the type of shares to be sold and the ex­act per­cent­age of the com­pa­ny to be float­ed weren’t avail­able.

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