Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) has announced plans to take its subsidiary Shanghai Henlius Biotech Co., Ltd (HKG: 2696) private. According to a stock exchange announcement from the China-based firm, Fosun currently holds 323.7 million shares of Henlius, representing 59.56% of the company’s total shares.
Fosun intends to offer a cash consideration of HKD 24.60 per share to acquire and cancel up to 131 million outstanding shares of Henlius. Additionally, the company plans to offer a cash consideration of RMB 22.444794 per share (equivalent to the cancellation price per share of H shares at an agreed exchange rate) to acquire and cancel no more than 88,700,925 non-issued shares. The total transaction value is capped at HKD 5.407 billion (approximately USD 692 million). Upon completion of the transaction, Fosun aims to hold 100% equity in Henlius.- Flcube.com
