Fosun Pharma clears key hurdles in Henlius Biotech privatization

Shanghai Fosun Pharmaceutical (SSE: 600196) announced significant progress in its plan to absorb and privatize its subsidiary, Shanghai Henlius Biotech. All pre-conditions for the deal, including approval from China's National Development and Reform Commission (NDRC), have been met as of December 16, 2024. The transaction involves Fosun's subsidiary, Shanghai Fosun New Drug Research Co., Ltd. acquiring and delisting all outstanding Henlius shares, including H-shares and unlisted shares, through cash and/or share exchange. Upon completion, Henlius will cease to exist as a legal entity, with Fosun New Drug assuming all assets, liabilities, and operations. The next step involves sending a comprehensive document to Henlius shareholders for their approval, as per Hong Kong's Takeovers Code. The deal still requires approval from Henlius shareholders and the Hong Kong Stock Exchange.