China's Sichuan Kelun-Biotech Pharmaceutical is seeking to raise $208.6 million in a Hong Kong initial public offering.According to the term sheet, the company is offering 22.44 million shares at a price between $7.74 and $9.30 per share, or HK$60.60 and HK$72.80.
Shares in the sale worth $67.3 million have been subscribed for by five cornerstone investors.The final price will be decided on Tuesday, and the stock will begin trading on the Hong Kong exchange on July 11.
With annual sales of over RMB 40 billion, Kelun is a highly inventive pharmaceutical group with over 100 domestic and international companies, including Sichuan Kelun Pharmaceutical Co., Ltd., Sichuan Kelun Pharmaceutical Research Institute Co., Ltd., and Klus Pharma Inc.
Sichuan Kelun Medicine & Trade Group Co., Ltd. and KELUN-Kazpharm LLP, among others. In terms of overall strength, Kelun was ranked third in China's pharmaceutical industry in 2017 and placed 155th out of China's top 500 manufacturing businesses. Due to its global advantages in big volume injections, Kelun was recognised in 2018 as a Manufacturing Individual Champion Demonstration Enterprise.
With the corporate mission of "Pursuing Truth in Science and Kindness in Ethics," Kelun has donated more than RMB 200 million to charitable organisations, the Guangcai Programme, and social welfare causes. This shows Kelun's wealth values and sense of social responsibility, as well as making it an excellent private company for the market economy's healthy growth.