IPO

Chinese medicine manufacturer Universe Pharmaceuticals files and sets terms for a $30 million US IPO

Universe Pharmaceuticals, a Chinese pharmaceutical specializing in traditional Chinese medicine derivatives, filed on Monday with the SEC to raise up to $30 million in an initial public offering.

The Jiangxi, China-based company plans to raise $30 million by offering 5 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Universe Pharmaceuticals would command a market value of $126 million.

The company

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