INSUBCONTINENT EXCLUSIVE:
Shares of Gland Pharma fell 0.65 per cent to close at Rs 1,826.60 apiece on the BSE.2 min read Last Updated : Jun 19 2024 | 11:48 PM
IST
Fosun Pharma, one of the promoters of Gland Pharma, on Wednesday divested a 6 per cent stake for Rs 1,754 crore through an open market
transaction.
Chinese drug firm Fosun Pharma, through its arm Fosun Pharma Industrial Pte, offloaded the shares of Hyderabad-based Gland
Pharma through a bulk deal on the BSE.
According to the bulk deal data available on the BSE, Fosun Pharma Industrial Pte disposed of 99
lakh shares or a 6 per cent stake in Gland Pharma.
The shares were sold at an average price of Rs 1,771.81 apiece, taking the deal size to
Rs 1,754.09 crore.
After the stake sale, Fosun Pharma's shareholding in Gland Pharma has declined to 51.86 per cent from 57.86 per
were purchased at an average price of Rs 1,771.05 per piece, taking the transaction value to Rs 146.11 crore.
Details of the other buyers
of Gland Pharma's shares could not be ascertained.
Shares of Gland Pharma fell 0.65 per cent to close at Rs 1,826.60 apiece on the BSE.
In
October 2017, Fosun Pharma acquired approximately 74 per cent of Gland Pharma at a valuation of not more than $1.09 billion.First Published:
Jun 19 2024 | 11:45 PMIST
