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China Fosun Pharma prices HK offer at bottom, to raise $512 mln-term sheet
HONG KONG |
HONG KONG Oct 24 (Reuters) - Shanghai Fosun Pharmaceutical (Group) Co Ltd is set to raise about $512 million after pricing its Hong Kong share offer at the bottom of an indicative range, according to a term sheet of the deal seen by Reuters on Wednesday.
Fosun Pharmaceutical, which is already listed in Shanghai, sold 336.1 million shares at HK$11.80 each, compared with a marketing range of HK$11.80-13.68 each, the term sheet showed.
The deal was the first major stock sale in Hong Kong after a drought of nearly three months in offerings and the biggest since mining company Inner Mongolia Yitai Coal Co Ltd raised about $900 million in July.
China International Capital Corp (CICC), Deutsche Bank , JPMorgan and UBS managed the offering. (Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman and Richard Pullin)
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