Gland Pharma, Fosun's Indian Subsidiary, Approved for $814 Million IPO
October 22, 2020 at 05:45 AM EDT
India 's Gland Pharma, a majority-owned subsidiary of Shanghai Fosun Pharma, was approved for an $814 million IPO on India 's Sebi exchange. The Hyderabad-based drug company makes generic injectible drugs for international markets. In 2017, Fosun paid $1.1 billion for a 74% stake in Gland. About $170 million of the IPO will be company shares, while $644 million will go to existing shareholders, a combination of Fosun and long-term investors including the founding family. More details.... Stock Symbol: (SHA: 600196; HK: 2196) Share this with colleagues: // //
