China: Sino Biological raises Rmb4.98bn in heavily oversubscribed IPO

Sino Biological, a biotechnology company which provides biological research reagents and related technical contract research services, has listing on the Shenzhen Stock Exchange subsidiary ChiNext. Some 17 million shares were issued to raise Rmb4.98bn (US$770m) at the IPO. The deal was oversubscribed a whopping 9,328 times, according to International Financing Review. The biotech company set…