Sichuan Kelun Pharmaceutical Co., Ltd. completed the acquisition of 10% stake in Cisen Pharmaceutical Co., Ltd. from Tianjin Qianding Enterprise Management Partnership (Limited Partnership).
September 13, 2021
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Sichuan Kelun Pharmaceutical Co., Ltd. (SZSE:002422) agreed to acquire 10% stake in Cisen Pharmaceutical Co., Ltd. (SHSE:603367) from Tianjin Qianding Enterprise Management Partnership (Limited Partnership) for approximately CNY 580 million on July 28, 2021. Under the terms Sichuan Kelun Pharmaceutical Co., Ltd. will acquire 45.3 millions shares for CNY 12.8 per share. Within five working days from the date of announcement of the transaction on the Shanghai Stock Exchange website after the entry into force of this agreement and the listed company, in the name of the transferee in the bank designated by the transferor; the transferee will transfer 50% of the price i.e CNY 290.14 million within five working days after the joint account is opened. The transferee shall pay the remaining 50% of the transfer price to the bank account designated by the transferor within two working days after the completion of the transfer of the underlying shares. As on July 28, 2021, transaction is approved by the Board of Sichuan Kelun Pharmaceutical Co., Ltd.
Sichuan Kelun Pharmaceutical Co., Ltd. (SZSE:002422) completed the acquisition of 10% stake in Cisen Pharmaceutical Co., Ltd. (SHSE:603367) from Tianjin Qianding Enterprise Management Partnership (Limited Partnership) on September 14, 2021.
Cisen Pharmaceutical Co., Ltd is a China-based company principally involved in the research, development, manufacturing and sales of medical products. The Company operates through two main segments. The Main Business segment is primarily involved in the manufacturing and sales of medicine, among which include infusion, freeze-dried powder, small volume injection, tablet, capsules, ointment, drops and active pharmaceutical ingredients, among others. The Other Business segment is mainly involved in the sales of raw materials and houses tenancy.