By
Fosun weighs Gland Pharma’s IPO; Temasek buys Ola shares worth at least $30 mn
Photo Credit: Thinkstock

China’s Shanghai Fosun Pharmaceutical Group Co. is in early discussions with advisers for an initial public offering of Hyderabad-based drugmaker Gland Pharma Ltd, Bloomberg reported.

The IPO size could be around $500 million (Rs 3,400 crore), the report said, citing people aware of the development.

Fosun had acquired 74% of Gland Pharma for $1.09 billion (Rs 6,980 crore) in October 2017.

In another development, the former and early employees of ANI Technologies Pvt. Ltd, which operates homegrown cab-hailing firm Ola, have sold shares worth at least $30 million in the company to Singapore state investment firm Temasek, Mint reported.

Temasek transaction valued the company at $2.5-3 billion, the report said, citing four people aware of the development.

Ola is in separate talks with Temasek for primary and secondary deals, the report said, citing two people aware of the development.

Leave Your Comment(s)