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The 1.39 billion proceeds from the private offering will be infused into YNBY's relocation project and wholly-owned subsidiary Yunnan Pharmaceutical Co., Ltd.
Based in the southwestern Chinese district of Gongxin, Kunming City, the relocation project is predicted to draw a total investment of CNY 1.0899 million, including about CNY 931 million used for construction and initial (start-up) working capital of nearly CNY 158.79 million. Once completed. it will help YNBY further expand production capacity and gain sales revenue of CNY 5 billion per year.
This time, Yunnan Pharmaceutical intends to take advantage of an additional CNY 300 million capital to supply its circulating fund, and it is expected to achieve an over 18% compound annual growth rate of operating revenue from 2009 to 2011.
From www.cnstock.com, Page 1, Tuesday, August 12, 2008 info@SinoCast.Com
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