Shanghai Pharmaceuticals Plans US$400m Share Sale To Fund Production



[HONG KONG] Shanghai Pharmaceuticals Holding Co Ltd said on Friday it planned to sell HK$3.13 billion (S$528.7 million) worth of new shares to fund the development of its manufacturing and distribution businesses.

The Chinese company plans to sell 153.18 million new H-shares, or 5.39 per cent of its total enlarged share capital, to third-party investors, it said in a filing.

The new shares will be issued at HK$20.43 apiece, a 6.71 per cent discount from the previous close.


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