Sihuan Seeks Investment Through Initial Public Offering

10 October 2010 (Last Updated October 10th, 2010 18:30)

Sihuan Pharmaceuticals hopes to raise up to $741m through its Hong Kong public offering, according to Reuters. China's largest cardio-cerebral vascular drug manufacturer is selling 1.25 billion new shares, equivalent to 25% of its share capital. The company has also signe

Sihuan Pharmaceuticals hopes to raise up to $741m through its Hong Kong public offering, according to Reuters.

China's largest cardio-cerebral vascular drug manufacturer is selling 1.25 billion new shares, equivalent to 25% of its share capital.

The company has also signed up six investors, including CCB International and China Life Insurance, for a combined $190m worth of shares.

Investment in Chinese medical firms has grown recently, a result of Beijing's promises to create a national healthcare system coupled with the sector's strong market momentum and ability to produce a quick profit for investors.

Sihuan markets its products, including cardio-cerebral vascular, metabolic and nervous system medications, through a network covering approximately 10,000 hospitals and medical institutions across China.