Chinese Life Science–Company Goes Public
Colleges, universities and research institutes accounted for 52% of BBI revenues for the six-month period. The PRC and the Americas accounted for 73% and 14% of revenues, respectively. The offer price per share was at the low end of the HKD 1.56–2.21 ($0.20–$0.28) price range. The company’s three largest shareholders are Pine River China Master Fund, (17%) China New Economy Fund (8%), and China New Rich Medicine Holding (8%). (For BBI’s financial results, see page 12.)
Hong Kong 12/15/14; Hong Kong 12/29/14; Hong Kong 1/19/15—Shanghai-based BBI Life Sciences, a provider of life science–research products and services, has completed a public offering of its common stock on the Hong Kong Stock Exchange. The company offered 91,815,000 shares at a price of HKD 1.75 per share ($0.23 = HKD 7.76 = $1) on December 30, 2014, raising a total of HKD 185.1 million ($23.9 million) after expenses and excluding an overallotment offering. BBI revenues for the six-month period ending June 30, 2014, rose 18.1% to CNY 120.0 million ($19.4 million = CNY 6.17 = $1). DNA-synthesis products, genetic-engineering services, life science–research consumables, and protein- and antibody-related products and services accounted for 41%, 19%, 31% and 10% of revenues, respectively.
