Hony offloads CSPC stake in $1.26b sale

The Chinese private equity firm takes advantage of scorching Hong Kong capital markets to divest holding in mainland pharma firm.

Private equity firm Hony Capital has raised $1.26 billion after selling off its entire 23% stake in CSPC Pharmaceutical, exploiting the company’s near 20% 11-day rise as mainland investors continue to flood the Hong Kong markets.

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