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Fosun Pharma plans Rp60bn Indian arm spin-off
Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has filed preliminary IPO documents with India’s securities regulator for a listing.
Hong Kong-listed Shanghai Fosun has won approval for the spin-off from the city’s bourse, according to a joint filing with Fosun International on Friday night. The listing is expected to raise around Rp55bn ($731.6m) to Rp60bn, according to a source close to the deal.
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