Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited agreed to acquire additional 8.8% minority stake in NewScen Coast Bio-Pharmaceutical Co., Ltd from Wang Liangming and Chen Zhe for CNY 8 million.

Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited (SGX:T14) agreed to acquire additional 8.8% minority stake in NewScen Coast Bio-Pharmaceutical Co., Ltd from Wang Liangming and Chen Zhe for CNY 8 million on August 22, 2022. Under the terms, Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited will acquire 5,735,899 shares at a price of CNY 8 per share. September 9, 2022, Tianjin Pharmaceutical's board has approved the transaction.

For the period end June 30, 2022, NewScen had CNY 100.9479 million of total assets and CNY -4.2201 million of net assets.