Shanghai Cai Tongde Pharmaceutical Co., Ltd. announced that it expects to receive CNY 20 million in funding from Shanghai New World Co., Ltd
January 17, 2021
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Shanghai Cai Tongde Pharmaceutical Co., Ltd. announced a private placement for gross proceeds of CNY 20,000,000 on January 18, 2021. The transaction will include participation from existing investor Shanghai New World Co., Ltd (SHSE:600628). The investor will continue to retain its 100% stake in the company. Post closing of the transaction, the registered capital of the company increased from CNY 80,000,000 to CNY 100,000,00. The transaction has been approved at the 29th meeting of the 10th directorate of the investor and does not require its shareholder approval.
Shanghai New World Co Ltd is a China-based company mainly engaged in department store retail enterprises integrating modern department stores, tourism, leisure and entertainment comprehensive consumption. The Company operates its businesses through four segments. The Commercial segment is principally engaged in department store retail. The Pharmaceutical Industry segment is mainly engaged in the sales of various types of chinese medicinal materials, chinese patent medicines, western medicines, ginseng and antler supplements, nutritional health products and medical equipment. The Hotel Services segment is principally engaged in the operation of Radisson brand hotels managed by Radisson Hotel Group. The Company is also engaged in other businesses segment. The Company mainly operates its businesses in the domestic market.
SHANGHAI NEW WORLD CO., LTD 
