Gansu Foge Tibetan Medicine Co., Ltd. announced that it expects to receive CNY 790.500216 million in funding from Tibet Cheezheng Tibetan Medicine Co., Ltd. and other investors
December 03, 2020
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Gansu Foge Tibetan Medicine Co., Ltd. announced that it will receive CNY 790,500,216.96 in an equity round of funding on December 4, 2020. The transaction will include participation from returning investor, Tibet Cheezheng Tibetan Medicine Co., Ltd. (SZSE:002287) to maintain its 100% stake in the transaction. Out of the total capital increase, CNY 158,100,000 will go to registered capital and the remaining will go to the capital reserve. Post the closing, the registered capital of the company will increase from CNY 53,596,000 to CNY 211,696,000. The transaction has been approved at the 30th meeting of the investor's 4th directorate and the 25th meeting of the 4th supervisory board and does not need the shareholders approval.
On June 10, 2021, the company announced that it has completed the registration and filing procedures of the capital increase, and obtained the "Business License" from Lintao County Market Supervision Administration.
Tibet Cheezheng Tibetan Medicine Co., Ltd is a China-based company, principally engaged in the research, development, manufacture and distribution of Tibetan medicines. The Company primarily offers medicines under emplastrum, ointment, granule, crude drugs and others. The Company's products include external pain relieving series, including Cheezheng Xiaotong emplastrum, Qingpeng ointment and Baimai ointment, as well as oral medicine series. The Company distributes its products within domestic market and to overseas markets.
Gansu Foge Tibetan Medicine Co., Ltd. announced that it expects to receive CNY 790.500216 million in funding from Tibet Cheezheng Tibetan Medicine Co., Ltd. and other investors