Shanghai Fosun Pharmaceutical (SHA:600196) subsidiary Fosun Industrial plans to sell its stake in a hospital and clinic operator for $124.1 million, according to a Wednesday filing with the Shanghai bourse.
Fosun Industrial will transfer 9.4 million ordinary shares of the target company to Calcite Gem.
The deal, approved on Thursday, marks the company's exit from the parent company of Chinese medical service group Harmony Family.
The sale will generate about 650 million yuan in post-tax gains.
Shares of the company rose 1% in recent trade.
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