BRIEF: Fosun Pharma raises stake in Henlius

2196.HK
2696.HK

Fosun Pharma (2196.HK) announced on Monday that its wholly owned unit, Fosun Pharma Industrial, acquired 21.03 million unlisted shares of its Henlius (2696.HK) subsidiary for HK$517 million ($66.6 million), or HK$24.60 per share. The deal represents 3.87% of Henlius’ total shares.

Fosun Pharma said the move reflects its confidence in Henlius’development and recognition of its value. The transaction will be funded through internal resources. Upon completion, Fosun Pharma’s stake in Henlius will increase from 59.56% to 63.43%.

Fosun Pharma attempted to privatize Henlius at HK$24.60 per share in an offer announced last June, but the proposal was voted down by minority shareholders in January. Over the past six months, Henlius’stock has surged 65.5% to around HK$36.50.

Henlius shares rose in early trading on Tuesday and closed up 11.78% at HK$37.95 by the midday break.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here

,
, ,

Related Articles

RELATED ARTICLES

No related posts.

Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

WeRide is enjoying a payoff from expanding its global taxi flee

Robotaxi rollout drives faster earnings pace at WeRide

The driverless technology company is enjoying a payoff from expanding its global taxi fleet, with quarterly revenues surging and losses continuing to shrink Key Takeaways: Third-quarter revenue more than doubled,…
0800.HK
WRD.US
Illustration of Luckin and Costa coffee being tasted

Luckin Coffee eyes global leap as China’s Double 11 loses its luster

Luckin could be preparing a bid for Costa Coffee. What's driving this potential deal, and what are its chances for success? And this year's Double 11 festival looks like a dud, with most big e-commerce companies failing to publish any big numbers. What does the future hold for this fast-fading shopping fest?