Sihuan Pharma Prices Hong Kong IPO at Top of Range

Sihuan Pharmaceutical Holdings priced its IPO at HK$4.60, the high end of its range (HK$3.88 to HK$4.60) and, ironically, the same number as its Hong Kong exchange symbol, as though the price was somehow foreordained. The offering placed 1.25 billion shares, raising HK$5.75 billion ($741 million), a price that gives the company a P/E ratio of 26.7 times expected 2011 earnings. More details.... Stock Symbol: (HKEX: 0460)