BRIEF-China's Zhongyuan Union Stem Cell to acquire ZhiCheng Biological via share issue, cash

Mon Feb 24, 2014 12:30am EST

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Feb 24 (Reuters) - Zhongyuan Union Stem Cell Bio-Engineering Corp

* Says plans to acquire Shanghai ZhiCheng Biological Technology Co Ltd via share issue and cash payment

* Says plans to issue up to 33.71 million shares at 24.5 yuan ($4.02) per share

* Says plans to issue shares to its controlling shareholder by raising 266 mln yuan for acquisition's cash payment

Source text in Chinese : link.reuters.com/keb27v

Further company coverage: ($1 = 6.0914 Chinese yuan) (Reporting by Hong Kong and Shanghai newsrooms)

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