BRIEF—Jiangsu Hansoh to raise up to $3 billion in Hong Kong IPO

Hansoh, a Chinese pharma based in Lianyungang, Jiangsu province, has applied to stage an initial public offering (IPO) on the Hong Kong exchange, reports ChinaBio today.

Unlike most companies seeking Hong Kong IPOs, Hansoh is both profitable and established.

It claims to be one of the top 30 biopharmas in China, with revenues of $900 million in 2017.

Two years ago, when rumors of a Hong Kong IPO first surfaced, it was thought Hansoh's debut would raise between $1.5 billion and $3 billion.

No estimates for this IPO are publicly available.