Fosun Pharma seals rare H-share placement

The privately-held drug maker raised $296 million from a fully-upsized placement of new H-shares, marking just the second time in nearly three years that a Hong Kong-listed company has sold new shares through a block sale.

Fosun Pharma seals rare H-share placement

Shanghai Fosun Pharma, the pharmaceutical unit of the highly-acquisitive Chinese conglomerate Fosun Group, took advantage of a strong rally in its stock price to raise HK$2.3 billion $296 million from a placement of H-shares on Tuesday night.

Fosun Pharma originally pitched a deal of 55 million shares, or 12% of its existing H-share capital. But the deal was quickly met with demand worth multiple times the shares on offer, allowing the company...

To continue reading, please login or register for free

Click for more on: fosun pharma | fosun | ecm | follow on | health | morgan stanley

Print Edition

FinanceAsia Print Edition