Shenzhen Youli Investment Management Co., Ltd. intends to acquire 5.82% stake in Zhejiang Cheng Yi Pharmaceutical Co., Ltd. from Yan Yiyi for approximately CNY 170 million.
September 16, 2021
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Shenzhen Youli Investment Management Co., Ltd. intends to acquire 5.82% stake in Zhejiang Cheng Yi Pharmaceutical Co., Ltd. (SHSE:603811) from Yan Yiyi for approximately CNY 170 million on September 9, 2021. Shenzhen Youli Investment Management Co., Ltd. signed a share transfer agreement to acquire 5.82% stake in Zhejiang Cheng Yi Pharmaceutical Co., Ltd. (SHSE:603811) from Yan Yiyi on September 16, 2021. As per the terms of the agreement, Shenzhen Youli Investment Management shall acquire 13.6 million shares in Zhejiang Cheng Yi Pharmaceutical Co., Ltd. at CNY 12.86 per share. The 20% of the total consideration shall be paid within 30 trading days from the effective date of this agreement by Shenzhen Youli Investment Management Co., Ltd., namely CNY 34.9 million and the remaining shall be paid within 90 days after the completion of the transfer and delivery of the underlying shares to the receiving account of Yan Yiyi. The transaction still requires compliance review by the Shanghai Stock Exchange and a the Shanghai branch of the limited liability company handles the transfer registration.
Zhejiang Cheng Yi Pharmaceutical Co., Ltd is a China-based company principally engaged in the research, development, production and sales of bulk pharmaceutical chemicals of chemical medicine and preparations. The Companyâs products are on the spectrum from arthritis, dieresis to anti-virus and anti-tumor. The main products include bulk pharmaceutical chemicals, injections, capsules, intermediates and others.
Shenzhen Youli Investment Management Co., Ltd. intends to acquire 5.82% stake in Zhejiang Cheng Yi Pharmaceutical Co., Ltd. from Yan Yiyi for approximately CNY 170 million.