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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Luye Said to Plan Pricing of $764 Million IPO at Top End

Posted on 04 July 2014

Luye Pharma Group Ltd., a Chinese drugmaker backed by Singapore’s sovereign wealth fund, and the company’s owners are poised to raise $764 million from a Hong Kong initial public offering, people with knowledge of the matter said.
The company, based in eastern China’s Yantai city, plans to sell shares at HK$5.92 apiece, the top end of a marketed range that started at HK$5.38, said the people, who asked not to be identified because the information is private. Luye Pharma and existing investors including GIC Pte offered 999.6 million shares in the sale, according to the company’s IPO prospectus………………………………………..Full Article: Source


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