Nanjing Hicin Pharmaceutical Co., Ltd. announced that it expects to receive CNY 400 million in funding
June 10, 2022
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Nanjing Hicin Pharmaceutical Co., Ltd. announced a private placement of not more than 36,000,000 A shares for gross proceeds not more than CNY 400,000,000 on June 10, 2022. The issuance price of shares must not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing benchmark date. The transaction will include participation from not more than 35 investors. The transaction has been approved in the 21st session of the 3rd board of director meeting. The transaction is still subject to approval by the company's general meeting of shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation. The shares issued shall not be transferred within 6 months from the date of the issuance.
On August 23, 2022, the company announced that the application for issuance of stocks to specific objects has been accepted by Shenzhen Stock Exchange.
Nanjing Hicin Pharmaceutical Co Ltd is a pharmaceutical company engaged in research, development and production of chemical preparations, active pharmaceutical ingredients and intermediates. The Company's primary products are torsemide for injection, tigecycline for injection, cefoxitin sodium for injection, cefotiam for injection and omeprazole sodium for injection. The torsemide for injection is a loop diuretic. The tigecycline for injection is an intravenous administrated glycyrrhizin antibiotic for the treatment of complex skin and skin structure infections or complex intra-abdominal infections. The cefoxitin sodium for injection is a cephalosporin antibiotic used for the treatment of respiratory, urinary and gastrointestinal infections. Its products cover a range of therapeutic areas, including diuresis, cardiovascular, anti-infection, digestive system, immune regulation, hypoglycemic and orthopedics.