Luo Yuefang completed the acquisition of 5.6% stake in Zhejiang Jiuzhou Pharmaceutical Co., Ltd from Zhejiang Zhongbei Jiuzhou Group Co.,Ltd and Taizhou Gede Investment Co., Ltd.
January 08, 2018
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Luo Yuefang signed the share transfer agreement to acquire 5.6% stake in Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) from Zhejiang Zhongbei Jiuzhou Group Co.,Ltd and Taizhou Gede Investment Co., Ltd for approximately CNY 360 million on November 19, 2017. Under the terms, Luo Yuefang will acquire 25.08 million shares at CNY 14.21 per share. Zhejiang Zhongbei Jiuzhou will transfer 19.6 million shares (4.4% of the total share capital) and Taizhou Gede Investment will transfer 5.5 million shares (1.23% of the total share capital) of the Zhejiang Jiuzhou Pharmaceutical. Before the transaction, Zhejiang Zhongbei Jiuzhou Group Co.,Ltd holds 196.9 million shares (44%) and Taizhou Gede Investment holds 28.05 million shares (6.3%.) of the Zhejiang Jiuzhou Pharmaceutical.
Luo Yuefang completed the acquisition of 5.6% stake in Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) from Zhejiang Zhongbei Jiuzhou Group Co.,Ltd and Taizhou Gede Investment Co., Ltd on January 9, 2018. Post completion, Zhejiang ZoneBanner JiuZhou Group Co.,Ltd. and Taizhou Gede Investment Co., Ltd. held 39.6% and 5% stake of Zhejiang Jiuzhou Pharmaceutical Co., Ltd respectively while Luo Yuefang held 5.6% stake.
Zhejiang Jiuzhou Pharmaceutical Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of chemical Active Pharmaceutical Ingredients (API) and intermediates. The Company mainly operates through two segments, including the New Drug and Intermediates Contract Development and Manufacturing Organization (CDMO) segment and the Specialty APIs and Intermediates segment. The New Drug and Intermediates CDMO segment mainly provides services for innovative medicines of pre-clinical chemical manufacturing and controls (CMC), clinical phases I, II and III, new drug application (NDA) and various stages after going public. The Specialty API and Intermediates segments mainly provides services including patent breakthroughs, production process improvement, drug certificate declaration, and cGMP standard commercial production for patented expired or soon-to-be-expired drugs for global chemical and generic drug manufacturers.
Luo Yuefang completed the acquisition of 5.6% stake in Zhejiang Jiuzhou Pharmaceutical Co., Ltd from Zhejiang Zhongbei Jiuzhou Group Co.,Ltd and Taizhou Gede Investment Co., Ltd.
ZHEJIANG JIUZHOU PHARMACEUTICAL CO., LTD 
