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

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