HONG KONG (Reuters) - Chinese drugmaker Shanghai Fosun Pharmaceutical (600196.SS)(2196.HK) launched an up to $304 million share offering in Hong Kong on Tuesday, IFR reported, citing a transaction term sheet.
The company, part of billionaire Guo Guangchang’s Fosun Group, is offering 55 million new shares in the base deal in an indicative range of HK$28.75 to HK$29.65 each, with an option to increase the offering by 25 million shares, added IFR, a Thomson Reuters publication.
That would value the deal at up to HK$2.37 billion ($304 million), including the extension option.
Fosun Pharma, as the company is known, did not respond to a Reuters request for comment on the share sale.
The price is equivalent to a discount of up to 7.4 percent to Tuesday's close of HK$31.05, having touched its highest level since June 2015. The share price has gained 31 percent so far this year, easily outpacing a 15 percent rise in the benchmark Hang Seng index .HSI.
Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by David Goodman