Fosun Pharma and Kite Pharma to Provide Up to $67 Million in Pro Rata Loans to Fosun Kite

Intelligent Finance APP News: Fosun Pharmaceutical (02196) announced that in order to meet the operational plan and funding needs of its subsidiary, Fosun Kite Biotechnology Co., Ltd. (hereinafter referred to as “Fosun Kite”), it intends to request the approval of the company's shareholders' meeting for Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (hereinafter referred to as “Fosun Pharmaceutical Industry”), a controlling subsidiary, along with Kite Pharma, Inc. (hereinafter referred to as “Kite Pharma”), the other shareholder of Fosun Kite, to extend and provide additional loans to Fosun Kite based on their respective equity stakes. The total amount of the loan will not exceed the equivalent of US$67 million (inclusive), provided either directly or through entrusted loans. Of this amount, Fosun Pharmaceutical Industry plans to provide a loan of up to the equivalent of US$33.5 million (inclusive) according to its 50% equity stake.