Hansoh Pharmaceutical Group Co Ltd has re-filed its application to conduct an initial public offering (IPO) in Hong Kong that could fetch the Chinese drugmaker at least $500 million, two people with direct knowledge of the matter said on Friday.
Hansoh Pharmaceutical had initially looked to raise up to $1 billion, sources previously told Reuters. One of the people on Friday said the IPO could raise $800 million to $1 billion whereas another said $500 million to $800 million.
The drugmaker’s draft IPO prospectus appeared on the Hong Kong stock exchange website late on April 11. Its previous application was filed in September and lapsed six months later. It was not clear why the application was allowed to lapse.
Hansoh Pharmaceutical’s drug portfolio covers central nervous system diseases, oncology, anti-infectives, diabetes, and gastrointestinal and cardiovascular therapies, the prospectus showed.