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Shinva Medical Instrument Co Ltd to Issue A Shares for Equity Acquisition and Fund Raising

Friday, 23 Aug 2013 12:00pm EDT 

Shinva Medical Instrument Co Ltd announced that it will issue 7,995,913 A shares of common stock with par value of RMB 1.00 per share at RMB 39.32 per share, to 18 individuals including Wang Bo and an investment company, to exchange for a combined 80% stake in a Shanghai-based pharmaceutical equipment production company (Company A). The Company will also purchase a combined 10% stake in Company A from Xu Zhonghua, Niu Yajun and Wang Shuai in cash. The total consideration of the 90% stake in Company A is RMB 352.8 million. In addition, the Company will issue up to 2,961,284 A shares to another 10 investors at not less than RMB 35.30 per share in private placement, to raise up to RMB 104,533,300. 

Company Quote

0.16 +0.47%
1:59am EST