Guangdong Taiantang Pharmaceutical Co., Ltd. announced that it expects to receive CNY 900 million in funding
May 27, 2020
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Guangdong Taiantang Pharmaceutical Co., Ltd. (SZSE:002433) announced a private placement of not more than 230,031,960 A shares for gross proceeds of not more than CNY 900,000,000 on May 28, 2020. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. The shares issued in the transaction cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 13th meeting of the company's 5th directorate, and is subject to the approvals of the shareholders meeting and the China Securities Regulatory Commission.
Guangdong Taiantang Pharmaceutical Co Ltd is a company mainly engaged in the manufacturing of Chinese patent medicines and the primary processing of Chinese medicinal materials. The Company operates five segments. Chinese Patent Medicines Manufacturing Business segment is mainly responsible for the production and wholesale of Pibao cream, Qilin pill, Xinbao pill, Xinxin pill, Tongqiao Yixin pill, etc. Primary Processing Business segment of the traditional Chinese medicine materials is mainly responsible for planting, primary processing and sales of the ginseng and traditional Chinese medicine materials. Drug Wholesale and Retail Business segment is mainly responsible for the wholesale and retail of drugs and medical devices. Health Industry Development and Products Sales segment is mainly responsible for the development and sales of health concept real estate products. Medical Services segment is mainly responsible for the in-depth development of medical and elderly care services.