Simcere Pharmaceutical Announces Share Placing and Subscription Agreement
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Simcere Pharmaceutical Group Limited (HK:2096) has announced a placing and subscription agreement for the sale of 121 million existing shares and the issuance of an equivalent number of new shares at a price of HK$12.95 per share. The transaction, coordinated by Morgan Stanley Asia Limited, is expected to generate gross proceeds of approximately HK$1,567 million, aimed at strengthening the company's financial position. The deal is subject to certain conditions and may not be completed.
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