Prolific investor George Soros plans to invest US$40 million in the upcoming initial public offering of Sihuan Pharmaceutical Holdings, Bloomberg reported, citing the Hong Kong Economic Times. Soros joins a growing list of cornerstone investors: China Life Insurance (LFC.NYSE, 601628.SH, 2628.HK) will purchase US$50 million of shares while Hillhouse Capital expects to buy US$45 million of stocks. Other subscribers include Value Partners Group, Alibaba Chairman Jack Ma and a subsidiary of China Construction Bank (CCB, 601939.SH, 0939.HK). Sihuan will be offering 1.25 billion shares, priced at between US$0.50 and US$0.59 apiece, to raise some US$741 million. The six cornerstone investors have already pledged to buy about US$190 million of the IPO shares.
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