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IPO Watch: Tongjitang Chinese Medicines Prices at $10

publication date: Mar 16, 2007
Company Trims Offering Price After Shanghai Surprise -- Tongjitang Chinese Medicines (TCM) priced its IPO at $10, down from the original target of $15-$17 and also lower than the reduced range of $12-$14. The IPO shows that the US market still has a desire to own Chinese companies. However, after the Shanghai surprise of February 27, when the Shanghai stock market lost 9% of its value in one day, US investors may not be willing to pay as high a price for that ownership. More details...


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