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Fosun Buys 5% Stake in Tongjitang Chinese Medicines

publication date: Oct 21, 2008

Fosun Enterprises Ltd., a subsidiary of Fosun Pharmaceuticals, bought 1.8 million ADSs of Tongjitang Chinese Medicines (NYSE: TCM) on the open market, paying $7.4 million, representing an average price of $4.09 per share. Tongjitang was selling for about $4 per share during July and August, but since then has fallen further. After the purchase, Fosun holds about 5.37% of the outstanding stock of Tongjitang. More details...

Stock Symbols: (SHEX: 600196) (NYSE: TCM)



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