Fosun Pharma To Raise $471 Million Through Bond Sale
Shanghai Fosun Pharma is once again raising capital, this time through a $471 million issue of China bonds. The deal-happy company is always is need of cash because it spends freely on M&A transactions. One year ago, Fosun raised $935 million in a private placement of shares, a move that sent its shares 17% higher. The reaction to yesterday's announcement was a more muted low-single-digits rise.