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Simcere Pharmaceutical Group »19/04/2007 [Finance]
Simcere Pharmaceutical Group Announces Pricing of Initial Public Offering on NYSE

Simcere Pharmaceutical Group, a leading manufacturer and supplier of branded generic pharmaceuticals in the rapidly growing China market, announced today that its initial public offering of 15,625,000 American Depositary Shares (ADSs), each representing two ordinary shares, was priced at an initial public offering price of $14.50 per ADS. The ADSs will begin trading on the New York Stock Exchange on April 20, 2007 under the symbol ''SCR.''

 

 

 
Of the 15,625,000 ADSs sold in the offering, 12,500,000 ADSs were sold by Simcere Pharmaceutical Group, and 3,125,000 ADSs were sold by the selling shareholders. The selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 2,343,700 ADSs to cover over-allotments.  
 
Goldman Sachs (Asia) L.L.C. acted as sole global coordinator and sole bookrunner and CIBC World Markets Corp., Piper Jaffray & Co. and First Shanghai Securities Limited acted as co-managers for the offering.   
The United States Securities and Exchange Commission has declared Simcere Pharmaceutical Group's registration statement to these securities to be effective. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

 
 

The offering of the securities is made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained from: Goldman Sachs & Co., c/o Prospectus Department, 85 Broad Street, New York,
NY, 10004, fax number: (212) 902-9316, email:
prospectus-ny@ny.email.gs.com 
 
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group is a leading manufacturer and supplier of branded generic pharmaceuticals in the rapidly growing China market. It currently manufactures and sells 35 pharmaceutical products including antibiotics, anti-cancer medication and anti-stroke medication and is the exclusive distributor of three additional pharmaceuticals that are marketed under its brand names. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, osteoporosis and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit
http://www.simcere.com .
For investor and media inquiries, please contact:
    In China:
     Eric Wang Lam Cheung
     VP Investor Relations
     Simcere Pharmaceutical Group
     Tel:   +86-25-8556-6666 x8898
     Email:
eric.cheung@simcere.com

    In the United States:
     Ashley Zandy
     Brunswick Group LLC
     Tel:   +1-212-333-3810
     Email:
ir@simcere.com
 

ANJING, China, April 19 /Xinhua-PRNewswire/ -- Simcere Pharmaceutical Group, a leading manufacturer and supplier of branded generic pharmaceuticals in the rapidly growing China market, announced today that its initial public offering of 15,625,000 American Depositary Shares (ADSs), each representing two ordinary shares, was priced at an initial public offering price of $14.50 per ADS. The ADSs will begin trading on the New York Stock Exchange on April 20, 2007 under the symbol ''SCR.''

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