China's Fosun to buy out Henlius Biotech, values it at $1.71 bln (updated)
24/06/2024 16:18
(Rewrites throughout, updates with further details and
background)
June 24 (Reuters) - Chinese conglomerate Fosun
International 0656.HK will buy the remaining stake in Shanghai
Henlius Biotech 2696.HK that it does not already own in a deal
that values the Hong Kong-listed drugmaker at HK$13.37 billion
($1.71 billion), the companies said on Monday.
Fosun International, through its unit Shanghai Fosun
Pharmaceutical 600196.SS , is offering HK$24.60 per Henlius
share, which reflects a premium of 30.6% to the target's last
close.
Henlius shares last traded on May 22, having closed at
HK$18.84, after the firm issued a trading halt pending an
announcement on takeovers and mergers.
Fosun Pharma is also the controlling shareholder of
Henlius Biotech and through its other affiliates, owns a total
of 65.23% in the Hong Kong listed drugmaker.
Fosun International is one of the country's biggest
listed conglomerates and includes a diverse set of companies,
carrying out operations from retail to real-estate.
($1 = 7.8075 Hong Kong dollars)
(Reporting by Rishav Chatterjee in Bengaluru; Editing by
Shounak Dasgupta and Shailesh Kuber)
((Rishav.Chatterjee@thomsonreuters.com))