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Tongjitang Chinese Medicines Files for IPO

Tongjitang Chinese Medicines Co., a Chinese drug company focused on modernized versions of traditional Chinese medicine, has filed for a $142 million IPO. It plans to offer 8.85 million American depository shares at between $15 and $17 per share — and trade on the NYSE under ticker symbol TCM. Merrill Lynch and UBS are serving as co-lead underwriters. Shareholders include Merrill Lynch, whose private equity and VC funds hold an 8.8% pre-IPO position.