Shanghai Fosun Plans to Buy $29.9 Million of Chindex Shares in Placement

Shanghai Fosun Pharmaceutical (Group) Co. plans to buy $29.9 million of Chindex International Inc. shares in a private placement, according to a statement to Shanghai’s stock exchange.

The Shanghai-based company will own as much as a 25 percent stake in Chindex by acquiring shares via the placement and through other purchases, according to the statement. It didn’t say if other companies would also participate in the placement. Fosun Pharmaceutical wants to form a venture with Chindex, according to the statement.

Fosun Pharmaceutical’s stake in Chindex increased to 11.72 percent as of July 9, according to the statement. The company’s stake was 11.25 percent as of July 1, according to an earlier Fosun Pharmaceutical statement.

To contact the reporter on this story: Zhe Huang in Beijing at zhuang37@bloomberg.net

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