Fosun likely to sell 5% stake in Gland Pharma

Fosun is likely to sell 5% stake in Gland Pharma on Wednesday which would be valued at Rs 1435 cr ($172 million) through a block deal, according to a term sheet viewed by ET.

Fosun will sell the shares at Rs 1750 per share which is 4.9% discount to the last traded price of Rs 1839.65. Fosun currently has a 57.86 percent shareholding in Gland Pharma.

UBS is the banker for the deal.


Buyers in the block deal will have a lock-in period of 90 days, according to the term sheet.