Hisun Group, a Chinese pharmaceutical maker, plans to sell a minority stake in its listed unit to foreign investors as it wants capital to boost its production, two sources close to the situation said on Thursday.

Hisun Group, headquartered in the eastern Chinese province of Zhejiang, has hired investment bank UBS to help it sell a stake in Zhejiang Hisun Pharmaceutical Co Ltd., the sources said. Hisun and UBS declined to comment.

Trading in the Shanghai-listed local-currency A shares of Hisun Pharmaceutical, a business partner of U.S. drug maker Eli Lilly and Co., was suspended on Thursday pending an announcement on a major transaction.

Shares in the Chinese company had gained 20 percent in the previous two sessions.

Hisun Group began looking for foreign investors last year and the company has recently shortlisted several interested parties, the sources said. 

Source:佚名