Shingai-based biopharmaceutical company CStone intends to secure 2.39 billion Hong Kongese dollar ($304 million) in a Hong Kong (HK) initial public offering (IPO), by selling each of its 186 million shares at $1.63.
Singaporean investment firm GIC, Chinese private equity firm Boyu Capital, Indus Funds and Ishana Capital, were the company’s investors and pledged a total of $95 million.
The investment from the investors would translate to 30 percent-plus of the total offering and a combined 6 percent stake in CStone.
Previously, CStone raised $260 million in a Series B funding round. The company was valued at $1.05 billion in the venture round.