BRIEF: Fosun pledges 27% of Fosun Pharma’s A-shares
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (2196.HK; 600196.SH) said on Monday that Shanghai Fosun High Technology, a subsidiary of Fosun International (0656.HK), has pledged 198 million shares of the Shanghai-listed A-shares it holds in Fosun Pharma to banking giant ICBC. The pledged shares account for 7.4% of Fosun Pharma’s total, and Fosun High Tech will use proceeds raised through the share pledge to repay debts.
Together with previously pledged shares, Fosun has pledged a total of nearly 720 million of Fosun Pharma’s A-shares, accounting for 26.65% of its total.
Fosun Pharma said agreements involving 433 million of its pledged shares will expire within one year, accounting for approximately 16.2% of the company’s total shares, involving an amount of 4.36 billion yuan.
By Lau Chi Hang
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