Shanghai Fosun Pharmaceutical Group Co is considering reducing its stake in India's Gland Pharma through block deals after facing challenges in selling it at once. Fosun Pharma Industrial Pte plans to sell up to 8.2 million shares, equivalent to a 5% stake, at a floor price of ₹1,750 per share, which is a 4.9% discount to the previous closing price. The stake sale is expected to amount to $172 million.
China’s Fosun Pharma to Unload 6% of India's Gland Pharma for USD210 Million @Fosun_Intl https://t.co/SBa5OUfUTS
Gland Pharma: Fosun Pharma Industrial Pte. looks to sell 8.2 million shares in a block deal. The floor price has been fixed at ₹1,750 per share, which is a 4.9% discount to Tuesday's closing price. Seller is a subsidiary of Shanghai Fosun Pharma (Group) Co.
Fosun Pharma to pare 5% stake in Gland Pharma for $172 million https://t.co/I1mbBehxJC
#MarketsWithMC | Fosun Pharmaceutical Group plans $172 mn stake sale in Gland Pharma via block deal, expected at 5% discount to market price.📉 Know more about it here👇 https://t.co/058WDqI98M #FosunPharma #GlandPharma #stake #sale
#FromBloomberg | Fosun Pharma Industrial Pte likely to sell up to 8.2 m shares (5% eq) of Gland Pharma Here's more👇 https://t.co/2ckfpdR5I1
Shanghai Fosun Pharmaceutical Group is in talks about cutting its stake in India’s Gland Pharma through block deals after being unable to offload it in one go, sources say https://t.co/8HH8W0Yk1t
#FromBloomberg | Shanghai Fosun Pharmaceutical Group Co is in talks about cutting its stake in India’s Gland Pharma through block deals after being unable to offload it in one go, according to people familiar with the matter https://t.co/kC51Hebzor