Fosun Pharma closer to privatizing Henlius Biotech

Shanghai Fosun Pharmaceutical (SSE:600196) announced significant progress in its plan to privatize its subsidiary, Shanghai Henlius Biotech. All pre-conditions for the merger, including approval from China's National Development and Reform Commission (NDRC) received on November 21, 2024, have now been met. The privatization, announced in June 2024 and revised in August 2024, involves Fosun's subsidiary, Shanghai Fosun New Drug Research, acquiring and delisting all outstanding Henlius shares (H-shares and unlisted shares) using cash and/or share swaps. Post-merger, Fosun New Drug will absorb Henlius' assets, liabilities, and operations. Next steps include sending a comprehensive document to Henlius shareholders for a vote, according to Hong Kong's Takeovers Code. The deal still requires approval from Henlius shareholders and the Hong Kong Stock Exchange for the voluntary delisting, with completion subject to these approvals.