Blackstone to invest $400m in Hong Kong-listed HEC Pharm
The Blackstone Group has agreed to invest $400 million in YiChang HEC Changjiang Pharmaceutical (HEC Pharm), a Chinese drug developer listed in Hong Kong, through a convertible bond issuance.
According to a regulatory filing, HEC Pharm’s bonds will bear an interest rate of 3% per annum and may be converted into 82.6 million shares at HK$38 per share. The conversion price represents a slight...
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