News Column

Xinbang Pharm to Raise CNY1.28bn for M&A

September 4, 2014

GUIZHOU, September 4, SinoCast -- Guizhou Xinbang Pharmaceutical (SZSE: 002390) intended to non-publically issue not more than 75.0733 million shares at CNY 17.05 a share or not more than CNY 1.28 billion in total.

All the raised capital deducing the issuance cost will be used to supplement working capital and for expansion and merger and acquisition in the pharmaceutical circulation field.

The subscribers are required to not sell the shares within 36 months.

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Source: Sinocast Health Care & Medicine Beat (China)

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