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China’s Fosun Pharma Targets $650 Million IPO With Prudential Insurance As Cornerstone Investor

This article was originally published in The Pink Sheet Daily

Executive Summary

China’s largest non-state-owned pharma company Fosun Pharma commenced an initial global offering in Hong Kong, and nearly half of the money raised will be used for M&A. But the $650 million expected to be raised is much smaller than the rumored $800 million.

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