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3SBio IPO raises $123.2 mln, above range

Tue Feb 6, 2007 8:18pm EST

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NEW YORK, Feb 6 (Reuters) - Chinese biotechnology firm 3SBio Inc. on Tuesday raised $123.2 million with an initial public offering that was priced above range.

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The 7.7 million American depositary share (ADS) offering sold for $16 per share compared with a $12 to $14 forecast range, according to an underwriter.

Each ADS represents seven common shares.

Underwriters, including UBS Investment Bank, CIBC World Markets and Pacific Growth Equities, have the option to purchase an additional 1.16 million ADS to cover over-allotments, according to the filing.

The company applied to list shares on the Nasdaq under the symbol "SSRX." (SSRX.O).

(Additional reporting by Yung Kim)

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