Hony Capital trims CSPC Pharma stake

Private equity firm Hony Capital raised $484 million after selling 10% of its shares in CSPC Pharma in an accelerated block in Hong Kong.

Hony Capital trims CSPC Pharma stake

Private equity firm Hony Capital trimmed its stake in CSPC Pharmaceutical on Monday, raising $484 million through an accelerated block trade after pricing 600 million shares at HK$6.25 each.

Hony remains a significant shareholder, owning 74% of the Chinese pharmaceutical company, although it will likely sell more shares after its six-month lockup expires. The HK$6.25 price tag represents a 7.1% discount to the May 26 closing price of HK$6.73.

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