December 14, 2009 (FinancialWire) — China Nuokang Bio-Pharmaceutical Inc. (NASDAQ: NKBP) said that its initial public offering of 5,000,000 American Depositary Shares (ADSs), each representing eight ordinary shares of the company, was priced at $9.00 per ADS.

Net proceeds from the sale of the ADSs are approximately $32.9 million. The ADSs are expected to begin trading on the NASDAQ Global Market on December 10, 2009 under the symbol “NKBP.”

Of the 5,000,000 ADSs being offered, 4,526,979 ADSs are offered by the company, and 473,021 ADSs are offered by the selling shareholders. A selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 750,000 ADSs to cover over-allotments, if any.

The company intends to use the net proceeds from this offering to fund the expansion of its sales and marketing platform, the acquisition and in-licensing of new technologies, products or companies, the research and development of its product candidates, the expansion and enhancement of its manufacturing facilities and for general corporate purposes.

Jefferies & company acted as the sole bookrunner and Oppenheimer & Co. acted as co-manager for the offering.

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