News Column

Chongqing Lummy Pharmaceutical to Kick Off Private Placement

September 3, 2014

CHONGQING, September 3, SinoCast -- Chongqing Lummy Pharmaceutical Co., Ltd. (SZSE: 300006) revealed plans for private placement to four designated investors including Tibet Lummy Medical Investment to finance at least CNY 1.15 billion, which will be used to replenish working capital.

Tibet Lummy Medical Investment under control of majority shareholder and effective controller will participate in subscription of the private placement. The board will recommend shareholder meeting to consent Tibet Lummy Medical Investment to be exempted from holding expansion through tender offer.

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Source: Sinocast Health Care & Medicine Beat (China)

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