China Resources Pharmaceutical in Hong Kong IPO

China Resources Pharmaceutical Group Ltd. has filed for an initial public offering in Hong Kong that could rank it among the biggest health-care-related deals expected this year in Asia, reports The Wall Street Journal. The company, the pharmaceutical arm of one of China’s biggest conglomerates, is looking to raise more than $1 billion and could potentially list shares as soon as September, according to a person familiar with the matter. China Resources Pharma will join a clutch of Chinese pharmaceutical companies lining up to raise collectively more than $5 billion in Hong Kong IPOs this year, according to bankers working on the deals.