China’s Tasly, TCM Pharma, Plans to List in $1 Billion Hong Kong IPO
China’s Tasly Pharmaceutical Group, a traditional Chinese medicine pharmaceutical company, plans to list its biopharma unit in Hong Kong to raise about $1 billion.
By Joanne Shih
As Hong Kong Exchanges and Clearing (HKEX), the stock exchange operator of the city, is easing up its listing rules to attract early-stage drug developers, this Tianjin-based pharmaceutical company, Tasly, announced to aim at Hong Kong IPO and to list its biopharma branch, Shanghai Tasly Pharmaceutical, in the second half of 2018.
Tasly Pharmaceutical International was incorporated in 1994, and has opened overseas branches and representative offices in 21 nations or regions and 4 chain traditional Chinese medicine clinics in 4 countries after more than ten years of operation. Tasly Holding Group currently has 50-odd branches and subsidiaries and 15,000 employees, and has registered more than 50 products in over 40 countries as adjuvant, health product and functional food, according to its website. On the other hand, Shanghai Tasly was founded in 2001 in China, and the company lunched one drug for treating blood-clot induced heart attacks in 2012.
Sources from Tasly Pharmaceutical Group also indicated that the Shanghai Tasly is considering a pre-IPO fundraising, although the scale has not been confirmed yet. Nonetheless, the people with knowledge of this matter declined to release further details as they claimed that they were not authorized to speak with the media.
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