It intends to introduce some strategic investors via offering a certain number of shares to selected investors including Ping An Life Insurance Company of China, Ltd., the life insurance unit of Ping An Insurance (Group) Company of China, Ltd. (601318.SH, 2318.HK) After the move, Ping An Life, the second largest life insurer in China, will take a not more than 10 percent stake in the Shenzhen-listed company.
Yunnan Baiyao has suspended trading on the Shenzhen Stock Exchange and is expected to resume trading on the bourse no later than August 12 when it is scheduled to gain approval from its company board for the private placement.
It will be the first time for the group to raise capital via launching private placement, said insiders, and the proceeds will be mainly used to expand production capacity and new products development.
From www.cnstock.com, Page 1, Tuesday, August 05, 2008 info@SinoCast.Com

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