Chinese drug producer Luye Pharma Group is poised to raise around US$750 million through an IPO in Hong Kong, The Wall Street Journal reported, citing people familiar with the matter. After delisting from the Singapore stock exchange in 2012, the pharmaceutical company won’t go public again until the second quarter at the earliest. The IPO, which is being handled by UBS (UBS.NYSE) and Citigroup (C.NYSE), gives private-equity firms CDH Capital, Citic Private Equity and New Horizon Capital the chance to sell some or all of their investments in Luye Pharma.
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