Chinese Neptunus Unit to List in Hong Kong

China's Securities Regulatory Commission has approved a Hong Kong listing for a unit of Chinese drugmaker Neptunus. The subsidiary, Shenzhen Neptunus Yingtelong Bioengineering, is 90% owned by its listed parent, and will await approval from the Hong Kong Stock Market before proceeding with the IPO. Shenzhen Neptunus Yingtelong, which makes a number of pharmaceuticals and health products, reported assets of CNY134.27mn (US$16.22mn) at the end of 2003.