Overview:
- China Biologic Products, a leading plasma-based bio-pharmaceutical company in China, has completed its secondary public offering of 2,775,000 shares of common stock with an aggregate size of more than $308 million.
- The selling stockholders were Warburg Pincus, an American private equity business, and its affiliated entities.
- The secondary offering represented approximately 10.4% of the company's current outstanding shares of common stock and the shares were sold at a price of $110 per share to the underwriter.
- China Biologic did not sell any shares in the offering or receive any proceeds from the sale of the shares by the selling stockholders.
- The total number of shares of common stock outstanding will not change as a result of this offering.
- Morgan Stanley acted as the sole underwriter for the offering. Warburg Pincus granted the underwriter a 30-day option to purchase up to 387,000 additional shares of common stock, which was fully exercised on March 4, 2016.
Hanna Rae Choi - Researcher