Shanghai Fosun Pharmaceutical Group, Shandong Buchang Pharmaceutical, 4SC

Shanghai Fosun Pharmaceutical Group intends to raise approximately HK$2.32bn ($298.3m) through a private placement of 80.6 million shares.

Priced at HK$28.8 ($3.7) a share, the placement includes a 90-day lock-in period from the closing date.

The proceeds will be used to repay the company’s interest-bearing debts, supplement the working capital, and to fund inorganic growth efforts.

Shanghai Fosun Pharmaceutical Group is a pharmaceutical company based in China.

Shandong Buchang Pharmaceutical has entered an agreement with Sihuan Pharmaceutical Holdings Group for the distribution of two Guhong and Troxerutin and cerebroprotein hydrolysate injections.

Both companies involved in the transaction are pharmaceutical firms based in China.