Chi-Med Completes US Offering at Lowered Price of $13.50/ADS

Hutchison China MediTech (Chi-Med) raised $101.5 million by pricing its initial US offering at a disappointing $13.50 per ADS, which is 17% lower than the expected price of $16.33. The size of the offering was increased from 6.1 million ADSs to 7.5 million, keeping the gross proceeds from the transaction just above the $100 million target. During today's London trading session, Chi-Med's ordinary shares also fell 17% as the price of the US offering was announced. In its first hours of US trading, Chi-Med's stock traded lower to $13.20. More details.... Stock Symbols: (NSDQ: HCM; AIM: HCM) Share this with colleagues: // //