Luye Pharma, owners eye up to US$764m from HK IPO

[SINGAPORE] Luye Pharma Group Ltd, a Chinese drugmaker backed by Singapore's sovereign wealth fund, and existing owners are seeking to raise as much as US$764 million from a Hong Kong initial public offering.

The company and its investors are selling 999.6 million shares at HK$5.38 to HK$5.92 each, according to terms for the deal obtained by Bloomberg News.

The shareholders include GIC Pte as well as Chinese private equity firms CDH Investments Fund Management Co and Citic Private Equity Funds Management Co, the terms show.