Ping An raises $1.1B in IPO

Mobile health and wellness company Ping An Healthcare and Technology Co. Ltd. (HKSE:1833) raised HK$8.8 billion ($1.1 billion) in its IPO through the sale of 160 million shares at HK$54.80. The price is at the top end of the company's range of HK$45.75-HK$54.80 proposed on April 23 (see BioCentury, April 27).

The offering's underwriters were Citigroup, J.P. Morgan, UBS, Ping An of China Securities, CCB International, CICC, CLSA, CMB International, CMS and HSBC. Ping An expects to start trading May 4 on the Hong Kong exchange...