Rheumatic diseases drug maker Lansen Pharmaceutical opens its retail books today to tap up to HK$553 million.
It plans to sell 141.35 million shares at HK$2.95 to HK$3.91 each, of which 29.25 percent or 41.35 million shares are existing shares to be sold by its parent company and a substantial shareholder.
The firm, set to go public on May 7, said it has no dividend policy, but a dividend of US$6.6 million (HK$51.48 million) was declared for the year ended December 31 on net profit of US$7.38 million.
Lansen's parent, London-listed Cathay International Holdings, will sell 31.35 million secondary shares in the global offerings.
The minimum cost for a board lot of 1,000 shares is HK$3,949.45.
Source: The Standard HK