Shutai Shen raises US$171.9M in share placement, Nord Fund takes largest slice
What's the deal? Shutai Shen (Beijing) BiopharmaceuticalDealroom has a profile for this one. Try Dealroom → raised US$171.9M through a private placement of shares to specific investors, the company announced on July 15. It issued 63.57 million shares at US$2.71 each, netting US$168.8M after costs.
Who's in? The placement drew nine final investors. Nord Fund ManagementDealroom has a profile for this one. Try Dealroom → took the largest allocation at US$17.9M, followed by Yimi Fund Management at US$17.7M and Penghua Fund Management at US$11M.
The signal: The post-IPO equity round shows Chinese institutional funds continuing to back listed biopharma names, giving Shutai Shen fresh capital to work with as it competes in a crowded domestic drug market.
Read more: Jiemian News
Image credit: foteih
