Fosun Pharma seals first placement in over a year

Pharmaceutical 230x150
By John Loh
19 Jul 2018

Shanghai Fosun Pharmaceutical Group bagged HK$2.6bn ($331m) from an H-share placement on Wednesday, its first capital raise in more than a year.

Global co-ordinators CICC, Fosun Hani, Morgan Stanley and UBS sold 68m primary shares in the China-based drug manufacturer for HK$38.20 apiece, according to a filing on the Hong Kong Stock Exchange.

The shares were crossed at a 9% discount to Fosun Pharma’s last close on Wednesday of HK$42.

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