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NanJing Pharmaceutical announces private placement

Friday, 15 Aug 2014 08:00pm EDT 

NanJing Pharmaceutical Co Ltd:To issue up to 203,844,918 shares of its common stock through private placement, at 5.20 yuan per share, to a Nanjing-based pharmaceuticals company and Alliance Healthcare Asia Pacific Limited.Says 96,153,846 new shares will be issued to the Nanjing-based pharmaceuticals company and the other 107,691,072 new shares will be issued to Alliance Healthcare Asia Pacific Limited.To raise up to 1,059,993,573.60 yuan in total.The proceeds raised will be used for bank loan repayment and supplement working capital.