Fosun Pharma guarantees subsidiary loan, adjusts credit line
Shanghai Fosun Pharmaceutical Group (SSE: 600196) announced that it will guarantee a RMB 450 million ($62.4 million) fixed-asset loan from China Construction Bank for its subsidiary, Fosun Anta Gene (Chengdu) Biopharmaceutical. The loan is secured by pledges from Fosun Anta Gene's shareholders and its subsidiary, Fosun Yali Feng. Additionally, Fosun Pharma is adjusting a prior guarantee related to a credit line for Fosun Anta Gene with Bank of Communications. The company will continue to guarantee up to RMB 20 million ($2.8 million), now entirely designated for working capital, shifting away from a split between fixed-asset and working capital allocations. The company has been actively purchasing back H Shares on the market, which may be to offset share dilution related to incentive plans.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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