WASHINGTON (dpa-AFX) - China Resources Pharmaceutical Group Ltd. has filed for an initial public offering in Hong Kong stock exchange, which could turn out to be the biggest IPO of drug company this year in Asia.
China Resources Pharmaceutical Group aims to raise $1 billion through the IPO.
Another Chinese company, Simcere Pharmaceutical Group is also planning to raise as much as $1 billion in a Hong Kong IPO this year, according to a WSJ report.
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