Fosun Pharma Subsidiary Waives Right to Receive Transferred Shares in Biologics-Focused Equity Fund
MT Newswires Live
Nov 05
Shanghai Fosun Pharmaceutical's (SHA:600196, HKG:2196) subsidiary, Suzhou Junming, agreed to the addition of a new investor in its biologics-focused private equity fund, Hangzhou Fund, and waived its right to receive shares transferred from another investor, according to a Shanghai bourse filing Thursday.
Porton Pharma Solutions acquired the 3.75% stake in the fund, which is worth 30 million yuan, from Ningbo Xinhui.
After the transaction, Ningbo Xinhui's share in the fund was reduced to 3.13% from 6.88%.
The pharmaceutical company's Shanghai and Hong Kong shares both rose 1% during the morning trade.
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