Sichuan Kelun Pharma to Stage $735 Million IPO in Shenzhen

Sichuan Kelun Pharmaceutical Co., a major manufacturer of IV solutions, announced its plans to raise 5 billion RMB ($735 million) in an IPO on the Shenzhen exchange. The company will issue 60 million A-shares, about 25% of its outstanding shares, at a price of 83.36 RMB ($12.26). Founded in 1996, Kelun’s revenues topped $382 million in 2008. Taxable profit was $88 million. More details... Stock Symbol: (SZEX: 002422)