China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced plans to issue 128,144,927 A shares at RMB 42 (USD 6.20) per share. The proceeds, totaling RMB 4.48 billion (USD 662 million), will be allocated to clinical studies of novel drugs, licensing deals, product launches, and the construction of an active pharmaceutical ingredients (APIs) and preparations base.
Funding Use
The funds raised will support the company’s pipeline development, including clinical trials for new drugs and strategic licensing agreements. Additionally, the capital will be used to expand Fosun Pharma’s manufacturing capabilities through the construction of an APIs and preparations base, enhancing its production and supply chain infrastructure.-Fineline Info & Tech
