UPDATE 1-Fosun Pharmaceutical set to launch $600 mln HK offer on Oct 11-IFR
(Adds share performance, initial approval for Hong Kong listing)
HONG KONG, Oct 4 (Reuters) - Shanghai Fosun Pharmaceutical (Group) Co Ltd is set to launch an up to $600 million Hong Kong share offering on Oct 11, IFR reported on Thursday, citing sources with knowledge of the deal.
The company is slated to price the share sale on Oct. 17, though dates could change depending on feedback from pre-marketing meetings with investors that started on Thursday, added IFR, a Thomson Reuters publication.
The company received approval from the Hong Kong stock exchange for its listing in April, but the deal was not launched then as a result of volatility in global equity markets and tepid demand for stock offerings in Hong Kong.
Shanghai Fosun Pharmaceutical's shares have risen nearly 8 percent since it won the green light for a Hong Kong listing.
The deal, which was earlier set to raise as much as $800 million, would be the first major stock sale in Hong Kong after a drought of nearly three months in offerings.
Shanghai Fosun Pharmaceutical is a subsidiary of Fosun International , one of China's largest conglomerates.
China International Capital Corp (CICC), Deutsche Bank , JPMorgan and UBS are handling the offering.
(Reporting by Jing Song of IFR; Writing by Elzio Barreto; Editing by Daniel Magnowski)
Keywords: FOSUN HONGKONG/