Chinese biotech 3SBIO launches up to $712 million HK IPO: term sheet

Reuters News
Posted: May 26, 2015 9:38 PM

(Reuters) - Chinese biotech company 3SBIO, which delisted from the Nasdaq two years ago, on Wednesday launched an up to $712 million Hong Kong IPO, according to a term sheet seen by Reuters.

The company and one of its shareholders are offering 606.1 million shares at an indicative price range of HK$8.30 to HK$9.10 each, the terms showed.

Citic Securities, Goldman Sachs and Morgan Stanley were hired as joint bookrunners on the deal.

3SBio delisted from the U.S. exchange two years ago after it agreed to be taken private for about $340 million by a group led by its chief executive, Jing Lou, and Chinese private equity firm CITIC Private Equity.

(Reporting by Vikram Subhedar; Editing by Stephen Coates)