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Shinva Medical Instrument Co., Ltd to Issue New Shares in Private Placement; to Acquire Equity Shares

Friday, 20 Jul 2012 08:00pm EDT 

Shinva Medical Instrument Co., Ltd announced that it will issue totally 14,460,240 A shares of common stock with par value of RMB 1 per share at RMB 22.51 per share, to Shandong Energy Zi Bo Kuang Ye Group Co., Ltd., a Tianjin-based investment management center, and Dong Jianhua, to raise RMB 325.5 million, or RMB 313.5 million in net proceeds. The Company will then acquire a combined 75% stake in a Changchun-based biotechnology company for RMB 313.5 million from 49 individuals including Dong Jianhua, Chen Weijia and Liu Haiqing. 

Company Quote

1.16 +1.87%
2:59am EDT