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H&QAP Press Releases
CareNet IPO Shows Potential for IPOs in Japan |
| 06/04/2007 |
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| Palo Alto, CA, June 4, 2007– The recent IPO of CareNet, Inc., Japan’s leading webbased marketing and consulting services firm for pharmaceutical companies, demonstrates the potential for Japanese stock listings on domestic exchanges, according to Dr. Ta-lin Hsu, Founder and Chairman of H&Q Asia Pacific (“H&QAP”), an investor in CareNet. CareNet went public on April 20th on the Mothers Board of the Tokyo Stock Exchange (TSE) at a price of Yen 170,000. The stock opened at a price of Yen 263,000, traded as high as Yen 267,000 in its first day of trading and closed at Yen 223,000. “While the volume of Japan’s IPO market lags those of the less-developed markets in China and elsewhere in Asia, we continue to see potential there for listings, given the underlying strength of the Japanese economy and equity markets,” said Dr. Hsu. “We also anticipate more public listings for growth companies across the Asia Pacific region as public markets mature and take on more depth.” About CareNet, Inc. CareNet was founded in July 1996 to build a B2B healthcare network in Japan. The Company’s original objective was to connect the nation’s hospitals, clinics, physicians, and pharmaceutical companies via Internet. In 2001, CareNet launched e-Detailing Services (web-based marketing and consulting services for pharmaceutical companies) utilizing their broad network and excellent reputation in the medical community. Information about of each healthcare provider is consolidated into a single database that allows pharmaceutical companies to cost-effectively market their innovative drugs, and for physicians to conveniently exchange and transmit feedback and information.
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