[ET Net News Agency, 19 January 2018] Shanghai Pharmaceuticals (02607) said it agreed
to place, on a best effort basis, about 153 million new H shares at HK$20.43 per share,
representing a discount of about 6.71% to the closing price of HK$21.9.
The placing shares represent around 16.67% and 5.39% of the enlarged issued H shares and
issued share capital of Shanghai Pharmaceuticals.
The estimated net proceeds of about HK$3,116.79 million will be used to fund the
development of its pharmaceutical manufacturing and distribution businesses and replenish
its working capital. (HL)