Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196), a leading pharmaceutical company in China, has announced that its board of directors has given the green light to pre-planning activities for the spin-off of its subsidiary, Fosun Health. The company is currently in discussions regarding the potential initial public offering (IPO) venue and is assessing whether Fosun Health satisfies the necessary IPO criteria.
In a related development, Fosun Health has successfully raised RMB 300 million in funding from Foshan Chancheng District Chanxi New City Investment and Construction Co., Ltd. This investment entity is under the control of the State-Owned Assets Supervision and Administration Commission (SASAC) of Chancheng District, Foshan City. The investment values Fosun Health at RMB 10.2 billion.- Flcube.com
