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

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...

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