Oct. 17, 2012 (China Knowledge) - Shanghai Fosun Pharmaceutical (Group) Co<600196
>, the medical subsidiary of Fosun International Ltd<0656
>, China's largest privately-owned conglomerate, plans to start its initial public offering on the Hong Kong Stock Exchange
with HK$4.6 billion or US$591 million fundraising.
According to prospectus, the medical manufacturer will issue 336 million shares at a price of between HK$11.8 and HK$13.68 apiece.
Two cornerstone investors will subscribe US$75 million worth of shares in the IPO. Prudential Insurance Co will invest US$50 million in the IPO, while International Finance Corp will spend US$25 million on share subscription.
UBS AG, China International Capital Corp, J.P. Morgan Chase & Co and Deutsche Bank AG will be responsible to arrange the IPO transaction.
Shanghai Fosun Pharmaceutical said it will be listed in Hong Kong on October 30.