Shanghai Henlius Biotech shares soar in Hong Kong after Fosun’s US$690 million buyout offer

Hong Kong-listed Shanghai Henlius Biotech surged by the most since it floated its shares five years ago after drug maker Fosun Pharma offered HK$5.4 billion (US$690 million) to privatise the company.

Fosun Pharma, the pharmaceutical arm of the sprawling Chinese conglomerate Fosun International, will pay HK$24.60 per H share – a term describing the stock of mainland Chinese firms listed in Hong Kong – and 22.44 yuan per unlisted share to buy out all the shares it does not already own.