China’s Fudan Zhangjiang to nab $96.8 mln in initial public offering

03/12/2019 2:56:00 PM (GMT)

Chinese drugmaker Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. plans to go public on the new high-technology board in Shanghai.

The company noted its board approved the issue of up to 120 million new A shares at a price of $0.015 each.

Fudan-Zhangjiang Bio-Pharmaceutical intends to raise 650 million yuan ($96.8 million) in the listing.

Fudan-Zhangjiang Bio-Pharmaceutical said that the listing is subject to approval from China’s securities regulator.

Fudan Zhangjiang Bio Pharmaceutical Co. Ltd.

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