Fosun Pharmaceutical seeks $594 million from HK listing

Shanghai Fosun Pharmaceutical Group yesterday kicked off the institutional roadshow and bookbuilding for the first Hong Kong listing in three months and the biggest since Yitai Coal raised $902 million in early July. As such, the deal will be extremely important as a gauge of investor appetite for Chinese companies.

The private sector company is seeking to raise between HK$3.97 billion and HK$4.6 billion $512 million to $594 million from the sale of 15% of its enlarged share capital.

The offering got an early boost after it emerged yesterday that Prudential, which is one of the two cornerstone investors, had decided to increase its investment...