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Hony Capital raising up to $1.26 billion by selling CSPC Pharma stake: IFR

(Reuters) – Chinese private equity firm Hony Capital is seeking to raise up to $1.26 billion by selling its remaining shares in CSPC Pharmaceutical Group (1093.HK), IFR reported on Thursday, citing a deal term sheet.

Hony Capital is offering 1.36 billion shares in a range of HK$7.03-HK$7.15 apiece, up to 6 percent below their last traded price, IFR, a Thomson Reuters publication, said.

CICC, Goldman Sachs, Morgan Stanley and UBS are the joint bookrunners, it added.