Fosun Pharma is planning to spin off and conduct a Hong Kong IPO of a subsidiary, medical device maker Yaneng Bioscience of Shenzhen. Yaneng is known principally for making in-vitro diagnostic kits. All the information about the transaction is preliminary because, as yet, neither the Hong Kong Exchange or the company’s own shareholders have approved the listing. However, the IPO could be a large one, because Yaneng recorded a net profit of $325 million in 2014.
