Shanghai Pharmaceuticals raises HK$3.1B placement

Shanghai Pharmaceuticals Holding Co. Ltd. (HKSE:2607; Shanghai:601607) raised HK$3.1 billion ($400.2 million) on Jan. 26 through the sale of 153.2 million shares at HK$20.43 in a placement on the Hong Kong stock exchange. The price is a 7% discount to Shanghai Pharmaceuticals' close of HK$21.90 on Jan. 18, the day before the placement was announced...