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Sinopharm Sells $515 Million of New Shares

publication date: Mar 29, 2013
Sinopharm Group, the biggest drug distributor in China, will raise $515 million by selling new Hong Kong-listed shares. The company said it would use the money to expand its sales network, which probably means a new round of M&A in China’s distribution sector. Because Sinopharm’s growth plans are so extensive, the company will be back in the market for more capital later this year, according to one analyst. More details....

Stock Symbol: (HK: 1099)

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