Date
20 October 2017

Sinopharm selling 20% stake in Shanghai unit, paper says

Sinopharm Group Co. Ltd. (01099.HK) is said to have put up for sale a 20 percent stake in Sinopharm Nutraceuticals (Shanghai) Co. Ltd., the China Securities Journal reported Sunday. The stake is being offloaded through the Shanghai United Assets and Equity Exchange in a deal worth 20 million yuan (US$3.29 million), it said. Upon completion of the stake sale, Sinopharm Group’s shareholding in Sinopharm Nutraceuticals will fall to 50 percent from 70 percent. Sinopharm Nutraceuticals posted a net loss of 12 million yuan last year on revenue of 51.42 million yuan. This year, the company had a net loss of 17.19 million yuan as of end-October, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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