Henlius Biotech shareholders reject take-private offer from China's Fosun (updated)

Shanghai Henlius Biotech

22/01/2025 12:19

(Adds details, background from paragraph 2 onwards)
       Jan 22 (Reuters) - 
    Hong Kong shareholders of Shanghai Henlius Biotech  2696.HK 
on Wednesday rejected Chinese conglomerate Fosun International's
 0656.HK  buyout offer, which would have valued the drugmaker at
HK$13.37 billion ($1.72 billion).
    Fosun unit Shanghai Fosun Pharmaceutical  600196.SS , which
already holds a 59.6% stake in Henlius, had offered HK$24.60 per
share in June 2024 for the remaining stake.
         A requisite majority of H-class shareholders did not
approve the buyout, the companies said.
  
        "The proposed privatisation of the Company (Henlius)
will not proceed and the listing of the H Shares on the Main
Board of the Stock Exchange will be maintained," they added.
  
        Henlius shares closed 4.4% lower on Wednesday, trading
at HK$17.1, their lowest level since May 2024. Fosun's Hong
Kong-listed shares dropped 1.7%.
  

($1 = 7.7874 Hong Kong dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Savio
D'Souza and Anil D'Silva)
 ((Aaditya.GovindRao@thomsonreuters.com;))