Bid to take pharma company private

Cathay International Pharma Manufacture and Distribution (China) has proposed to privatize Lansen Pharmaceutical (0503) at a price of HK$1.8 per share.

That is about 26 percent higher than the last trading price, which was HK$1.43.

Cathay International Pharma and others not involved in the privatization scheme together hold 286.1 million shares, which account for about 68.2 percent of the total issued shares of Lansen.

A privatization is estimated to require about HK$239.84 million.