Maker of Po Chai Pills kicks off HK$750 million IPO to account enlargement skeleton in Asia

Jacobson Pharma Corp, Hong Kong’s largest general drug organisation and builder of a Po Chai Pills used by generations of a city’s residents, is seeking to lift HK$750 million in an initial open offer.

The association will sell 437.5 million shares during a cost operation of between HK$1.28 to HK$1.72 per share, 10 per cent of that are indifferent for sell investors.

The association opens a book for sell investors on Thursday, requiring a smallest subscription of HK$3,475 for 2,000 shares. A apart tranche indifferent for institutional investors had already been entirely subscribed, according to people informed with a plans.

The batch is scheduled to start trade in Hong Kong on Sep 21.

Hong Kong residents are informed with Jacobsen’s Po Chai Pills, little pellets done from a herbal pill that’s used for relieving indigestion and hangovers.

The company, that relies on Hong Kong for 90 per cent of a revenue, also creates a Flying Eagle Woodlok Oil and Tong Tai Chung Woodlok Oil.

Jacobson skeleton to use 45 per cent of a deduction from a IPO for acquisitions, including a environment adult of ventures, according to a prospectus.

The association skeleton to enhance in Macau, Taiwan, Vietnam, and Southeast Asia, pronounced Jacobson;s authority and arch executive Derek Sum. The association also skeleton to enhance to several provinces in southern China, where there is a laxity with a brand.

“We design to turn a heading code in Asian Pacific region,” Sum said.

Net distinction rose 34 per cent to HK$152.7 million in a year finished Mar 31, while sum sales increasing 14 per cent to HK$1.08 billion, according to Jacobson’s prospectus.

Generic drug sales done adult 87.2 per cent of a company’s income for a year, while exclusive herbal medicines such as Po Chai Pills, done adult usually 12.8 per cent of sum revenue.

China’s drug regulator in May authorized over a opposite sales of Po Chai Pills, permitting them for selling and sales on a mainland but a doctor’s prescription.

Hong Kong Wing Wah Medicines Group, that has over 30 drug stores in a city, was a cornerstone financier that subscribed HK$80 million of a new shares. Sum expects to see some-more business synergy with Wing Wah.

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