M.Stanley offers Sihuan Pharma shares worth up to $147 mln - IFR

HONG KONG, April 2 Wed Apr 2, 2014 6:46am EDT

HONG KONG, April 2 (Reuters) - Morgan Stanley Private Equity Asia launched a sale of shares in Sihuan Pharmaceutical Holdings Group Ltd. worth up to $147 million on Wednesday, IFR reported, citing a term sheet for the transaction.

The firm is offering 120 million Sihuan Pharmaceutical shares at an indicative range of HK9.36 to HK$9.50 each, added IFR, a Thomson Reuters publication. The range is equivalent to a discount of up to 4.2 percent to Wednesday's closing price of HK$9.77.

Morgan Stanley and UBS were hired as joint bookrunners for the sale. ($1 = 7.7571 Hong Kong Dollars) (Reporting by Fiona Lau of IFR; writing by Elzio Barreto; editing by Tom Pfeiffer)