Luye Pharma to Conduct $750 Million Hong Kong IPO

Luye Pharma is planning to stage a $750 million IPO in Hong Kong. Luye is a China company that makes TCM products, innovative drugs and biotech products. It is controlled by three China private equity companies, which bought a 77% stake in Luye in 2012 when the company had a market capitalization of $320 million. Later that year, the PE firms bought out the public shareholders and delisted Luye from the Singapore exchange. The new Hong Kong IPO is expected to value Luye at somewhere in the $1-$1.5 billion range. More details.... Share this with colleagues: // //