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Yunnan Walvax Completes IPO

Nov. 11, 2010

Yunnan Walvax Biotechnology, a biopharmaceutical company focusing on research, development and marketing of vaccines, completed its IPO on November 12, 2010 on the Shenzhen ChiNext Exchange, pricing 25 million shares at 95 RMB each ($14.32). The offering raised RMB 2.375 billion ($358 million) and gave the company a market cap of RMB 13.6 billion ($2 billion).