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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
