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Chemspec IPO Opens Strong
Posted on July 05, 2009
During the past week, two China pharma-related companies successfully completed their IPOs, ending a long drought of new offerings. Guilin Sanjin Pharmaceutical Co, a traditional Chinese medicine company, will make its debut on the Shenzhen exchange. On the New York Stock Exchange, chemical company Chemspec (CPC), which produces APIs as well as other specialty chemicals, listed its shares. Both issues received an enthusiastic welcome. Guilin Sanjin priced its IPO at 19.8 RMB per share, on the high side of its projected 17-21 RMB range. Because of the price and an expanded offering size, the 46...
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