Shutai Shen raises 1.25B yuan in share placement, Nord Fund takes largest slice
What's the deal? Shutai Shen (Beijing) BiopharmaceuticalDealroom has a profile for this one. Try Dealroom → raised 1.25 billion yuan (about $185 million) through a private placement of shares to specific investors, the company announced on July 15. It issued 63.57 million shares at 19.71 yuan each, netting 1.228 billion yuan after costs.
Who's in? The placement drew nine final investors. Nord Fund ManagementDealroom has a profile for this one. Try Dealroom → took the largest allocation at 130 million yuan, followed by Yimi Fund Management at 129 million yuan and Penghua Fund Management at 80 million yuan.
The signal: The post-IPO equity round shows Chinese institutional funds continuing to back listed biopharma names, giving Shutai Shen fresh capital to work with as it competes in a crowded domestic drug market.
Read more: Jiemian News
Image credit: foteih
