Fosun Pharmaceutical to Set Up Parallel Fund Structure

MT Newswires Live04-01

Shanghai Fosun Pharmaceutical (Group) (SHA:600196, HKG:2196) plans to establish a parallel fund structure, which will consist of two funds that will invest in early-stage healthcare innovation projects, according to a Shanghai bourse filing on Wednesday.

The Tianjin Phase II Fund and the Hangzhou Fund will each have a target size of 1 billion yuan.

The pharmaceutical company will be a limited partner, investing 288 million yuan and 10 million yuan in Tianjin Phase II through two subsidiaries, and 348 million yuan in Hangzhou Fund through another designated subsidiary.

Fosun's Hong Kong shares rose 3% and Shanghai shares gained 2% during the morning trade.

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