Shanghai Pharma to raise $1.2 bln in HK offering

SHANGHAI, Sept 8 (Reuters) - Shanghai Pharmaceuticals (601607.SS) said on Wednesday it plans to raise at least 8 billion yuan ($1.2 billion) through a public share offering in Hong Kong.

The company said in a statement given to reporters ahead of a news conference that it would use the proceeds from the share sale for acquisitions both at home and abroad. ($1=6.79 Yuan) (Reporting by David Lin and Jacqueline Wong, Writing by Samuel Shen)