China Resources raises HK$14B in IPO

Drug distribution company China Resources Pharmaceutical Group Ltd. (HKSE:3320) raised HK$14 billion ($1.8 billion) through the sale of 1.5 billion shares at HK$9.10 in an IPO underwritten by BofA Merrill Lynch, CCB International Capital, China International Capital Corp., Goldman Sachs, Morgan Stanley, China Merchants Securities, ICBC International Securities Ltd., HSBC, Mizuho, China Securities International, BOC International, CMB International Capital, ABC International and JPMorgan. The price valued the company at HK$56.2 billion ($7.2 billion).

Investors included Hengjian International Investment Holding Ltd., China Life Insurance Co. Ltd. and Fujifilm Holdings Corp. (Tokyo:4901). ...