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Merck-Backed Kelun-Biotech Picks Banks for Hong Kong IPO, Sources Say

  • Kelun Pharma unit working with Citic Securities, Goldman Sachs
  • Too early to make a decision on biotech unit’s offering size
Updated on

A biotech subsidiary of Sichuan Kelun Pharmaceutical Co. selected Citic Securities Co. and Goldman Sachs Group Inc. to work on its upcoming initial public offering in Hong Kong, according to people familiar with the matter.

Kelun-Biotech plans to list as soon as in 2023, the people said, asking not to be identified as the information is private. It is too early in the process to determine the offering size, the people said.