Featured: Fosun Gland has been approved for a listing in India, raising $170 million

On July 10, 2020, Fosun Pharma(i) proposed an initial public offer of its shares (i.e., Gland Pharma shares with a face value of Rs.1.00 per share, referred to as "shares") to Securities and Exchange Board of India (the Securities and Exchange Commission of India, or "SEBI"), the National Stock Exchange of India (the "Indian Stock Exchange") and the Bombay Stock Exchange ("Mumbai Stock Exchange") submit a draft informal prospectus;
,500 million Indian rupees (about 1.25 billion yuan, about $170 million) through the IPO.
in addition to issuing new shares, the original shareholders plan to sell up to 34.8 million shares to the public, including about 19.3 million shares of Fosun Pharma, about 10 million shares of Gland Pharma's team, 3.5 million shares of the Empower Discretionary Trust, and 1.87 million shares of the trust company, the Nilay Discretionary Trust.
October 22, 2020, according to Mint and ChinaBio, between the two countries, Gland Pharma has received approval from India's securities regulator for an initial public offering.
will become the first Chinese holding company to list on india's stock exchange.
02Gland Pharma was founded in 1978 and is headquartered in Haidraba, India, and is primarily involved in the development and production of generic drugs for small molecule injections, with LAU Yiukwan Stanley as Chairman and Srinivas Sadu as CEO.
Gland Pharma is india's first FDA-approved manufacturer of injectable drugs and GMP certified in major regulatory markets around the world, with revenues coming primarily from the United States and Europe.
pharma (through a controlling subsidiary) together owns 74% of Gland Pharma.
as of December 31, 2018, Gland Pharma's total assets were approximately RMB624,502 million, owner's equity was approximately RMB479,626 million, and total liabilities were approximately RMB1,448.76 million.
2018, Gland Pharma achieved operating income of approximately RMB191,292 million and net profit of RMB283.25 million.
above data for the consolidated caliber, including the assessment of value-added amortization.
2019, Gland Pharma achieved revenue of approximately RMB2,507 million and net profit of RMB 513 million, up 52.2% YoY, with a total of 15 generic products approved by THEA of the FDA.
In China, there have been 2 products (injection with right rezososheng, pyrethroid injection) reported to the import registration application (IDL), 4 products (injection with pyrethroid acid thick solution, injection with acetic acid carpofen net, hydrochloric acid ilitecon injection, injection with tygatin) reported to the import registration clinical trial application (CTA).
03 proposed spin-off and independent listing purpose and significance Fosun said: spin-off and independent listing is conducive to Fosun International and Fosun Pharma's business development, and will provide a separate financing platform for Gland Pharma.
Fosun Pharmaceutical Group (company and holding subsidiary/unit, the same between companies) business area covers the entire pharmaceutical health industry chain, the business to drugs, diagnostic reagents, medical device research and development, production and sales, as well as medical services business as the main body, and through the Group's equity investment to cover the pharmaceutical commercial circulation field.
Among them, the Group has a pharmaceutical manufacturing and research and development business as the core, and has the most potential and growth in China's pharmaceutical market in the six major disease areas (i.e., cardiovascular, metabolic and digestive system, central nervous system, blood system, anti-infection and anti-tumor) to form a relatively complete product layout, each core pharmaceutical products in their respective sub-sectors have a leading edge.
Gland Pharma is one of the controlling subsidiaries of the Pharmaceutical Manufacturing and Research and Development Section of the Group, mainly engaged in the development and production of small molecule injection generics, and its net assets, operating income and net profit ratio are as follows: 1. The proportion of net assets is issued according to Ernst and Young Huaming (Special General Partnership) Audit Report No. 60469139_B01 of EY Huaming (2019), as of December 31, 2018, the Net Assets attributable to shareholders of listed companies in the Group's consolidated statements were RMB2797,774 million.
Gland Pharma's net assets by equity in the Group's 2018 consolidated statements account for approximately 12.69% of the Group's consolidated statements.
2, the proportion of operating income according to the Ernst and Young Huaming accounting firm (special general partnership) issued by Ernst and Young Huaming (2019) No. 60469139_B01 Audit Report, in 2018, the Group's consolidated statement realized operating income of RMB 2,491,827 million.
2018 Gland Pharma's operating income as a percentage of the Group's consolidated statement operating income is approximately 7.68%.
3. Net profit ratio According to Ernst and Young Huaming Accounting Firm (Special General Partnership) issued by Ernst and Young Huaming (2019) Review No. 60469139_B01 Audit Report, in 2018, the Group's consolidated statement realized the net profit attributable to shareholders of listed companies was RMB 270,792 million.
net profit by equity in the Group's 2018 consolidated statements as a percentage of the Group's net profit from consolidated statements was approximately 7.74%.
Through this offering, on the one hand, it will help Gland Pharma to further grow and develop in its local market, optimize its corporate governance and capital structure, continue to expand its industry leadership, and enhance the Company's reputation as a controlling shareholder and return on investment;
, Gland Pharma's overseas listing will strongly promote the upgrading of the Company's holding integration strategy and will further strengthen the Group's core competitiveness and promote the Group's sustainable development.
addition, Gland Pharma is expected to remain a controlling subsidiary of the Company upon completion of the overseas listing.