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Beike's initial public offering offered 106,000,000 ADSs, each representing three Class A ordinary shares of the company, at a price to the public of per ADS for a total offering size of .12 billion, assuming the underwriters do not exercise their option to purchase additional ADSs.

Before the biomedicine started rising into prominence in around 2008, domestic companies had already seized the opportunities to research and develop biopharmaceuticals, thanks to the technologies, capital, talent pool and other resources accumulated, he explained.

Before announcing the arrangement, the city's leader met with about 100 district councilors on Wednesday night. It was part of the government's effort to help the city move forward after more than three months of chaos and violence.

Before, the final frontier was the preserve of government-backed programs from State-owned companies.

Beijing Municipal Commission of City Management has recently drafted a plan to upgrade the 1,000-plus newsstands in the capital, aiming to make them into innovative reading space and convenient service provider for the citizens.