Shanghai Fosun Pharmaceutical (Group) Co (HK:2196) has released an update.
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. has increased its stake in Puling Biomedical from 10.65% to 12.60% through a subsidiary’s RMB7,500,000 capital contribution. This strategic move is part of a larger RMB16,833,333 capital increase agreement and follows the subsidiary’s waiver of the right of first refusal for additional shares. The transaction is classified as a connected transaction under the Hong Kong Listing Rules, requiring reporting and announcement but exempt from independent shareholder approval.
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