Hua raises $110M in Hong Kong IPO

Diabetes company Hua Medicine Ltd. (HKSE:2552) raised HK$867 million ($110.5 million) in an IPO through the sale of 104.8 million shares at HK$8.28. EVP and CFO George Lin said the offering, which priced at the low end of its HK$8.28-HK$9.28 range, values the company at HK$8.7 billion ($1.1 billion).

Underwriters are Goldman Sachs, CLSA, UBS and Guotai Junan International. The company expects to begin trading Friday...