Shanghai Fosun Pharmaceutical (Group) Co. Ltd., a unit of China’s private conglomerate Fosun International Ltd., has offered to buyout Shanghai Henlius Biotech Inc. in a deal that values the innovative drugmaker at HK$13.37 billion ($1.71 billion), reports Caixin. Fosun Pharma, already the controlling shareholder, said late Monday that it plans to acquire the remaining stakes at HK$24.60 ($3.15) per share.
The firm said it would pay as much as HK$5.4 billion ($692 million) for Henlius’ remaining stakes. The offer represents a 52.04% premium over the company’s average price from the previous trading days.
The deal will be financed using a combination of acquisition loans and proprietary funds, with the loan amount not exceeding the equivalent of HK$3.7 billion, said Fosun Pharma.