Summary by Moomoo AI
Shanghai Fosun Pharma announced on November 22, 2024, regarding the progress of the privatization and absorption merger of its holding subsidiary Henlius Biotech in Shanghai. The privatization plan was approved by the board of directors on June 24, 2024, and August 23, 2024, with Fosun Pharma planning to acquire and cancel all shares of Henlius through cash and/or stock exchange. After completion, Fosun Pharma will take over all the assets, liabilities, and business of Henlius. This transaction has been approved by the National Development and Reform Commission of China on November 21, 2024. However, the transaction still requires approval from multiple government departments, including the Ministry of Commerce, the State Administration of Foreign Exchange, and the securities regulatory institutions in relevant jurisdictions. In addition, the shareholder meetings...Show More