BioCentury
ARTICLE | Finance

Fosun's Foreign Foray

China's Fosun Pharma to use funds from Hong Kong listing to shop for companies

October 29, 2012 7:00 AM UTC

Shanghai Fosun Pharmaceuticals Group Co. Ltd. (Shanghai:600196; HKSE:02196) will use a portion of the HK$4 billion ($511.6 million) raised in its new listing on the Hong Kong Stock Exchange to go shopping abroad for the first time.

A formal announcement on the financing is expected this week, but a financier familiar with the deal, who spoke on condition of anonymity, said the Chinese pharma sold 336.1 million shares at HK$11.80...