Qiming-Backed Gan & Lee Completes Shanghai IPO

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Gan & Lee Pharma, backed by Qiming Venture Partners and other venture investors, has completed an A-share listing in Shanghai. It issued 40.2 million new shares at the issue price of RMB 63.32 per share, raising a total of 2.54 billion yuan (US$359 million) in the initial offering. The company now has a market capitalization of around 36.6 billion yuan (US$5.2 billion).

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