China’s Simcere Pharmaceutical Advances At Home After Exit From NYSE

chinas simcere pharmaceutical advances at home after exit from nyse

Sumary of China’s Simcere Pharmaceutical Advances At Home After Exit From NYSE:

  • Simcere Pharmeutical’s headquarters in the eastern Chinese city of Nanjing.
  • Simcere Pharmaceutical Group Simcere Pharmaceutical Group was relatively early among Chinese companies to go public in the United States — it started trading on the New York Stock Exchange in 2007 with a market capitalization of nearly $1 billion after raising $226 million in an IPO.
  • “I still remember that as a lot of money,” Chairman Ren Jinsheng smiled in an interview at the company’s headquarters in the eastern China city of Nanjing.
  • ” Simcere successfully listed in Hong Kong last year, raising HK$3.57 billion ($460.6 million) in Hong Kong from the sale of 261 million shares at HK$13.70 apiece on Oct.
  • It’s also benefitted Shanghai-headquartered Fosun International, which invested in Simcere when it was listed in New York and didn’t sell when it delisted.
  • Yet newer investors — including funds associated with Hillhouse Capital and OrbiMed — are still waiting for a payback from the relisting: Simcere’s shares closed at HK$7.90 on Thursday, well below their Hong Kong listing price.
  • Simcere Pharmaceutical Group Chairman Ren Jinsheng Simcere MORE FOR YOU Ren, 59, has a long view and sees a lot of progress at Simcere.
  • Once focused on generic drugs, Simcere is making more innovative drugs of its own.

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