March 28, 2013 / 1:00 AM / 4 years ago

Sinopharm to raise up to $515 mln in share sale to fund expansion

HONG KONG, March 28 (Reuters) - Sinopharm Group Co Ltd , China's biggest distributor of pharmaceutical products, said on Thursday that it was aiming to raise up to HK$4 billion ($515.3 million) by selling Hong Kong shares, to fund the expansion of its distribution and retail network.

Sinopharm, which posted a 26 percent rise in 2012 profit, said it would sell up to 165.7 million new H shares at HK$24.60 apiece, representing a 8.9 percent discount to the previous close.

For full statement please clicks here

$1 = 7.7633 Hong Kong dollars Reporting by Donny Kwok; Editing by Chris Gallagher

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below