Fosun to Raise Capital for Expansion

Fosun Pharmaceutical said it will raise up to 635 million RMB ($93.4 million) from no more than ten institutional investors, one of whom will be its parent company, the conglomerate Fosun International. The new capital will fund three new projects including the recombinant human insulin industrialization project (371 million RMB – $54.6 million), the Artesunate hi-tech industrialization project (190 million RMB – $27.9 million) and the in-vitro diagnosis manufacturing facility (74 million RMB – $10.9 million). More details... Stock Symbol: (SHEX: 600196)