Shanghai Fosun Pharmaceutical to Sell 55% Stake in Investment Firm

MT Newswires Live

Apr 14

Shanghai Fosun Pharmaceutical (Group) (HKG:2196, SHA:600196) agreed to sell a total equity stake of 55% in Shanghai Fujian Equity Investment Fund Management to three parties for around 26.5 million yuan, an April 11 filing with the Hong Kong bourse said.

Of this, 29%, 25.9% and 0.1% equity interests were sold to controlling shareholder Shanghai Fosun High Technology (Group), Li Fan, and executive director Guan Xiaohui for around 14 million yuan, 12.5 million yuan, and 48,254 yuan, respectively.

Following completion, the company holds a 45% equity stake in the target company, which engages mainly in equity investment management, investment management, and investment consultancy.

The pharmaceutical firm will use proceeds from the sale for working capital.

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