Shanghai Fosun Pharmaceutical plans up to RMB 7 billion bonds

By Marisa Wong

Morgantown, W.Va., March 31 – Shanghai Fosun Pharmaceutical (Group) Co., Ltd. said it plans to issue up to RMB 7 billion of corporate bonds.

Proceeds will be used to replenish working capital and to repay interest-bearing debt.

The issuance is subject to shareholders’ approval at an upcoming meeting.

The pharmaceutical company is a Shanghai-based member of the Hong Kong group Fosun International Ltd.

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