Temasek launches up to US$25m selldown in Shanghai Pharma: IFR

[HONG KONG] Singapore state investor Temasek Holdings on Tuesday launched a selldown of up to US$25 million in Shanghai Pharmaceuticals, IFR reported, citing a term sheet of the transaction.

Temasek is offering 8 million shares of Shanghai Pharmaceuticals in an indicative range of HK$23.55 to HK$24.30 each, equivalent to a discount of up to 3 per cent to Tuesday's close, added IFR, a Thomson Reuters publication.

Goldman Sachs was hired as sole bookrunner of the selldown, the terms showed.

REUTERS