Tibet Pharmaceuticals Announces Closing of Initial Public Offering on NASDAQ

Tibet Pharmaceuticals, Inc. has closed its initial public offering. There were over 1,000 investors that purchased shares in the offering.

Tibet Pharmaceuticals, Inc.  announced on Janurary 24 that it has closed its initial public offering of 3,000,000 shares of common stock at a public offering price of $5.50 per share.

Tibet Pharmaceuticals, Inc. (TBET) is a pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China.

The size of the offering closed at the maximum end of the 2,500,000 to 3,000,000 share range as previously disclosed in Tibet's registration statement filed with the U.S. Securities and Exchange Commission.  There were over 1,000 investors that purchased shares in the offering.  The common shares are expected to begin trading mid-morning on January 25, 2011, under the ticker symbol "TBET" on the