3SBio to Go Private
Feb 8th 2013 9:37PM
Updated Feb 9th 2013 11:01AM
3SBio will no longer trade as a public company. \The China-based firm announced that it will be taken off the market by a group captained by CEO Jing Lou, in addition to that nation's CITIC Capital. The buyout will see the group absorb 3SBio stock in exchange for $2.20 per ordinary share and $15.40 per American Depositary Receipt.
The latter price represents a premium of approximately 12% over 3SBio's most recent closing price on the Nasdaq. All told, the transaction should amount to around $340 million.
Jing's investor group already controls roughly 18% of the company.
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