Skadden Leads 3SBio's Hong Kong Debut
The Chinese biotechnology company has returned to the public markets two years after delisting from the Nasdaq.
June 15, 2015 at 12:01 AM
1 minute read
Skadden, Arps, Slate, Meagher & Flom has advised Shenyang-based 3SBio Inc. on its $712 million initial public offering in Hong Kong.
In the IPO, the Chinese biotechnology company, known for its treatments for blood disorders, sold 606.1 million shares at $1.17 each. The bulk of the proceeds will be used for acquisitions to expand the company's product portfolio, with the remainder going toward boosting its production capacity and research and development.
The listing comes two years after 3SBio delisted from the Nasdaq and was taken private by a consortium led by company co-founder Lou Jin and CITIC Private Equity Funds Management Co.
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