News Column

Controllers Cut Holdings in Yuyue Medical Equipment & Supply

August 7, 2014

SHANGHAI, August 7, SinoCast -- Jiangsu Yuyue Medical Equipment & Supply announces that Jiangsu Yuyue Technology Development, controlling shareholder, and effective controller plan to sell shares in the company through block trades or agreement transfers; the shares to be sold would exceed 5% of the company's capital stock in the coming six months.

The controlling shareholder cut holdings to raise capital for significant acquisitions.

Yuyue Technology will remain controlling shareholder; controlling shareholder and effective controller statuses will not change.

The company stated in March that Yuyue Technology planned to buy 111.5 million shares in China Resources Wandong Medical Equipment and 100% equities in Shanghai Medical Instruments (Group) as a buyer of intent. The company would spin off current medical image business and take over the 100% equities if the deal were closed.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Health Care & Medicine Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters