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The pharmaceutical maker raises a total of CNY 1.394 million via the issuance of the shares at CNY 27.87 a share and is expected to pay the raised capital for the move of a new project in Chenggong, Kunming City, and additional investment in Yunnan Pharmaceutical Company Limited. The life insurance firm subscribes the shares with cash and is not permitted to sell the shares within 36 months starting from the issuance day.
After the issuance, the holding in the Shenzhen-listed company held by Yunnan Yunyao Co., Ltd., the largest shareholder of Yunnan Baiyao, drops to 41.52% from 45.81% and the holding of Yunnan Hongta Group, the second largest holder, falls to 12.32% from 13.6%.
Source: www.sina.com.cn (January 05, 2009)
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