China Nuokang Bio-Pharmaceutical, Inc., a Chinese drug company focused on hematological and cardiovascular products, has filed for a $69 million IPO of American Depository Shares (ADSs).

China Nuokang Bio-Pharmaceutical, Inc., a Chinese drug company focused on hematological and cardiovascular products, has filed for a $69 million IPO of American Depository Shares (ADSs).

China Nuokang plans to issue 4,526,979 ADSs and the selling will offer 473,021 ADSs, at a price between $10 and $12 per ADS. Each ADS represents eight ordinary shares of China Nuokang Bio-Pharmaceutical\'s share capital.

The selling shareholders have granted the underwriters the right to purchase up to 750,000 additional ADSs to cover over-allotments. The company plans to trade on the NASDAQ Global Market under the ticker symbol \'NKBP.\' Anglo China Bio-technology Investment Holdings Limited, Sequoia Capital China Growth Fund I., L.P., Britain Ukan Technology Investment Holdings (Group) Limited and HBM BioMed China, and other directors and employees include Baizhong Xue, Neil Nanpeng Shen are selling their stake in China Nuokang through the IPO.