Fosun Pharmaceutical seeks $594 million from HK listing

Prudential agrees to buy $50 million worth of shares, bringing the total cornerstone investment to $75 million.
<div style="text-align: left;">
Back to work: Fosun is the first new listing in Hong Kong for three months
</div>
<div style="text-align: left;"> Back to work: Fosun is the first new listing in Hong Kong for three months </div>

Shanghai Fosun Pharmaceutical Group yesterday kicked off the institutional roadshow and bookbuilding for the first Hong Kong listing in three months and the biggest since Yitai Coal raised $902 million in early July. As such, the deal will be extremely important as a gauge of investor appetite for Chinese companies.

The private sector company is seeking to raise between HK$3.97 billion and HK$4.6 billion $512 million to $594 million from the sale of 15% of its enlarged share capital.

The offering got an early boost after it emerged yesterday that Prudential, which is one of the two cornerstone investors, had decided to increase its investment...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222