News Column

Jilin Zixin Pharmaceutical to Kick Off Private Placement

September 5, 2014

JILIN, September 5, SinoCast -- Jilin Zixin Pharmaceutical Industrial Co., Ltd. (SZSE: 002118) revealed plans for private placement of 158.7302 million shares for CNY 12.6 per share to finance at most CNY 2 billion, which will be used for repaying bank loans and replenishing working capital.

Upon completion, the company expected current ratio and quick ration will respectively climb to 6.86 and 2.78 and liability ratio will decline to 23.18%, reducing interest expenditure and strengthen profitability.

Zixin Pharmaceutical has great demand for working capital because of big early-stage investment in gene sequencing products. Replenishing working capital will ease capital pressure and assure progress of gene sequencing manufacturing.

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Source: Sinocast Health Care & Medicine Beat (China)

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