Shanghai Pharma to Raise $1.5 Billion in Hong Kong in 2011

Shanghai Pharmaceutical Co. Ltd., China's second-largest drug maker by revenue, will stage a Hong Kong IPO next year to raise between $1.2 billion and $1.5 billion. The offering will constitute as much as 25% of the company’s total outstanding shares. Half of the proceeds will be used to fund M&A transactions. More details.... Stock Symbol: (SHEX: 601607)