Deals
China Resources Pharma Attracts Reckitt, Fujifilm to IPO
- Drugmaker is seeking to raise as much as $2 billion from sale
- Wide distribution network is seen giving company an edge
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China Resources Pharmaceutical Group Ltd. attracted investors including Reckitt Benckiser Group Plc, the maker of Durex condoms, and Fujifilm Corp. to its Hong Kong initial public offering that’s seeking to raise as much as $2 billion.
China’s second-largest drugmaker is offering 1.543 billion shares at HK$8.45 to HK$10.15 apiece, according to terms for the deal obtained by Bloomberg on Thursday. Eight cornerstone investors have agreed to buy about $916 million of stock, representing as much as 54.5 percent of the base offering.