Sihuan Pharmaceutical premarketing for $700 mln HK IPO

HONG KONG Sun Oct 3, 2010 11:18pm EDT

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HONG KONG Oct 4 (Reuters) - Sihuan Pharmaceutical Holdings Group Ltd, China's largest cardio-cerebral vascular drugmaker, plans to raise $600-700 million from a Hong Kong initial public offering this month, sources familiar with the matter told Reuters on Monday, joining a flurry of stock offerings in the city in recent months.

Sihuan, which kicks off its IPO premarketing on Monday, planned to start the road show and bookbuilding on Oct. 12, with a trading debut set for Oct. 28, one of the sources said.

Sihuan offers products in China covering several major medical therapeutic areas, namely the cardio-cerebral vascular, anti-infective, metabolic, oncological and nervous system, according to the company's website.

The company markets its products through a network covering about 10,000 hospitals and medical institutions across China.

Morgan Stanley (MS.N) and UBS AG (UBSN.VX) are handling the IPO. (Reporting by Kennix Chim; Editing by Chris Lewis)

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