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Fosun Pharma Surges to Record on $936 Million Share Sale Plan

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Shanghai Fosun Pharmaceutical Group Co. rose to a record in Hong Kong trading after saying it will raise as much as 5.8 billion yuan ($936 million) by selling shares to repay debt and replenish working capital.

The stock rose as much as 36 percent to HK$35.15, the highest level since it started trading on the Hong Kong stock stock exchange in October 2012. It traded at HK$32.15 at 9:37 a.m. local time.