Luye Pharma Prices Hong Kong IPO at Top of Range

Luye Pharma priced its Hong Kong IPO at the top end of its proposed range, placing 999.6 million shares at HK$5.92 to raise US$764 million. The shares will begin trading on Wednesday, July 9. The price reflects a price-earnings ratio of 26.6 and values Luye at $2.5 billion. Luye was listed in Singapore until 2012, when three private equity firms and the sovereign wealth fund of Singapore (plus the company’s chairman) took the company private. More details.... Stock Symbol: (HK: 2186) Share this with colleagues: // //