Sinopharm sells $526 million of new H-shares

The Chinese drugs distributor completes the fourth-biggest equity capital-raising in Asia this year through a private placement, while Shui On Land announces a rights issue of at least $474 million.

Sinopharm sells $526 million of new H-shares
The Sinopharm group is China’s biggest distributor of pharmaceutical and medical products

Hong Kong-listed Sinopharm Group, China’s biggest distributor of pharmaceutical products, has raised HK$4.08 billion $526 million from a private placement its second such deal in two years.

The deal was completed last Wednesday night after a couple of days spent gauging the demand among a targeted group of potential investors. The investors were told that the bookrunners planned to launch the deal last Thursday, but might go sooner if they felt the deal was...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES