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Nepstar Chain Drugstore starts its IPO plan

China Nepstar Chain Drugstore Ltd.£¬a drug retailer headquartered in Shenzhen£¬has submitted its IPO application in November 2007 to the relevant department of US to land to the New York Stock Exchange recently. The IPO is supposed to raise 250 million US dollars. Nepstar Chain Drugstore was the first drug retailer of China to accept foreign capital with Goldman Sachs Group Inc., GS investment of 40 million US dollars in 2004.

According to the open news, Nepstar made RMB 2.18 billion sales in 2006 and ranked the second in the total drug retail companies of China. Established in 1995, Nepstar has grown from a single shop into a chain of 1,791 directly operated outlets covering 62 cities in China by September 30th, 2007.And it is China s largest retail drugstore chain based on the number of directly operated stores.

Source:  
Editor: kitty
Date: 2007-11-16 16:15:00

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