China Kanghui prices IPO, raises $68.4 million
Chinese medical device maker China Kanghui Holdings priced shares of its initial public offering in the middle of its expected range, raising $68.4 million, the company said late Tuesday.
China Kanghui makes orthopedic implants. The company and its stockholders priced 6.7 million American depositary shares, representing 40.1 million ordinary shares, for $10.25 apiece. Shares had been expected to price from $9.25 and $11.25 each.
The ADSs are expected to trade Wednesday on the New York Stock Exchange under the symbol "KH."