Beijing-based biotech company Berry Genomics has completed its Rmb4.3 billion (US$619 million) back door IPO on the Shenzhen Exchange.
In September, the company, announced that it intended to acquire Chengdu-based car parts manufacturer Chengdu Tianxing Instrument & Meter. Trading in Tianxing shares was suspended on 28 December after its share price rocketed from Rmb24.33 on 19 December to Rmb47.41.
Earlier this week, Tianxing sold Berry 203 million shares at Rmb21 per share.
It is the second genomics company to list successfully in China this year. In mid July, Shenzhen-based genomics sequencing company Beijing Genomics Institute, better known as BGI, raised Rmb547 million (US$80.8 million) by selling 40.1 million shares at Rmb13.64 each.
Citic Securities managed the deal for Berry.
Shares in Tianxing yesterday traded up 6.4% to Rmb62.80.