Shanghai Fosun Pharmaceutical (HKG:2196, SHA:600196) and a subsidiary agreed to dispose of their stake in Jinan Fujian Partnership to Shanghai Fujian, according to a Shanghai bourse filing on Tuesday.
Fosun will transfer its subscribed 7 million yuan interest in the partnership fund for 1.1 million yuan, while its subsidiary, Fosun Pingyao, will transfer its 1 million yuan stake for 150,000 yuan.
After the transaction, the company will no longer own any equity in Jinan Fujian.
The pharmaceutical company's Hong Kong shares dropped 4%, while Shanghai shares fell nearly 2% during the afternoon trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments