Singapore Sovereign Fund Boosts Stake in Chinese Drugmaker with HK$185 Million Share Purchase

Deep News08:10

Hong Kong stock exchange disclosures have revealed a notable transaction involving a major global institutional investor and a leading Chinese pharmaceutical company.

On August 21, GIC Private Limited, the Singaporean sovereign wealth fund, increased its position in HENGRUI PHARMA (01276) by acquiring an additional 3.8438 million shares. The purchase was executed at an average price of HK$48.1522 per share, bringing the total investment to approximately HK$185 million.

Following this transaction, GIC Private Limited's total shareholding in the company has risen to 44.3934 million shares, which corresponds to a 17.19% stake in the drugmaker. This move signals continued confidence from the institutional investor in the pharmaceutical sector's growth prospects.

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