Issue Date: July 16, 2012
ShangPharma Mulls Going Private Again
Less than two years after its initial public stock offering, the Chinese contract research firm ShangPharma may delist from the New York Stock Exchange after two major shareholders offered to buy all of the shares they do not already own. CEO and founder Michael Xin Hui, who owns 54% of ShangPharma, and the private equity firm TPG Star Charisma, with an 11% stake, made an offer to buy all additional shares for as much as $9.50 each. Prior to their offer, shares in ShangPharma traded for about $7.00, less than half of their $15 listing price in October 2010. ShangPharma’s board says it will review the offer.
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