Haian Ruihai Urbanization Investment and Construction Co., Ltd., completed the acquisition of 10.29% stake in Nantong Jinghua Pharmaceutical Co., Ltd. from Zan Shengda.
October 19, 2021
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Haian Ruihai Urbanization Investment and Construction Co., Ltd., entered into a share purchase agreement to acquire 10.29% stake in Nantong Jinghua Pharmaceutical Co., Ltd. (SZSE:002349) from Zan Shengda for approximately CNY 510 million on August 19, 2021. Pursuant to the terms of the agreement, Haian Ruihai Urbanization Investment and Construction Co., Ltd., will acquire 86 million shares in Nantong Jinghua Pharmaceutical Co., Ltd., at CNY 5.88 per share. Payment of the first transfer payment: within five working days from the date of signing the agreement, 50% of the share transfer price shall be paid, which is CNY 252.8 million. Payment of the second transfer payment: within three working days after the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited completes the transfer and registration of the target shares, the remaining share transfer price shall be paid, which is 252.8 million. As a result of the acquisition, stake of Zan Shengda in Nantong Jinghua Pharmaceutical Co., Ltd., will decrease from 13.21% to around 2.92%.
Haian Ruihai Urbanization Investment and Construction Co., Ltd., completed the acquisition of 10.29% stake in Nantong Jinghua Pharmaceutical Co., Ltd. (SZSE:002349) from Zan Shengda on October 19, 2021.
JINGHUA PHARMACEUTICAL GROUP CO., LTD., formerly NANTONG JINGHUA PHARMACEUTICAL CO., LTD., is a China-based company, principally engaged in the research and development, production and distribution of Chinese patent drugs, pharm ingredients and intermediates and chemical intermediates. The Company is also engaged in the provision of traditional Chinese medicinal materials and Chinese herbal pieces, among others. The Company primarily provides tablets, capsules, pills, granules, injections, powder, syrup, healthcare products, beverages and chemical intermediates, among others. The Company offers Chinese patent medicines, such as Wangshi Baochiwan pills and Jidesheng tablets. Its bulk drugs include phenobarbitone and fluorouracil. The Company distributes its products in domestic and overseas markets.
Haian Ruihai Urbanization Investment and Construction Co., Ltd., completed the acquisition of 10.29% stake in Nantong Jinghua Pharmaceutical Co., Ltd. from Zan Shengda.