Xu Zhiqi completed the acquisition of 3.4% stake in Hunan Er-Kang Pharmaceutical Co., Ltd from Hunan Shuaijia Investment Co., Ltd.
July 20, 2021
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Xu Zhiqi agreed to acquire 3.4% stake in Hunan Er-Kang Pharmaceutical Co., Ltd (SZSE:300267) from Hunan Shuaijia Investment Co., Ltd for approximately CNY 200 million on July 2, 2021. Pursuant to the terms of the agreement, Xu Zhiqi will acquire 70.33 million shares in Hunan Er-Kang Pharmaceutical Co., Ltd for CNY 2.78 per share. The consideration will be paid in cash. In view of the fact that before the signing of this agreement, the guarantee fund of CNY 5 million that Xu Zhiqi has paid to Hunan Shuaijia Investment Co., Ltd., is automatically included in the share transfer price that Xu Zhiqi has paid to Hunan Shuaijia Investment Co., Ltd. The parties agree and confirm that within 3 working days after the transaction is confirmed by the Shenzhen Stock Exchange, Xu Zhiqi shall pay the remaining share transfer price to the bank accounts designated by Hunan Shuaijia Investment Co., Ltd., and CITIC Securities Co., Ltd., under this agreement a total of CNY 190.52 million.
Xu Zhiqi completed the acquisition of 3.4% stake in Hunan Er-Kang Pharmaceutical Co., Ltd (SZSE:300267) from Hunan Shuaijia Investment Co., Ltd on July 21, 2021. On July 21, 2021, Hunan Shuaijia Investment received the "Securities Transfer Registration Confirmation" issued by the Shenzhen Branch of China Settlement.
HUNAN ER-KANG PHARMACEUTICAL CO., LTD. is principally engaged in the research, development, production and sales of pharmaceutical excipients, finished drugs and bulk drugs. The Companyâs pharmaceutical excipients mainly consist of glycerol for medicine, sugar for medicine, ethanol for medicine, propylene glycol for medicine, as well as sodium hydroxide for medicine and others. Its bulk drugs consist of sulfadiazine, sulphaguanidine and resorcinol, among others. Its finished drugs consist of sulbenicillin sodium injections and compound liquorice tablets. The Company distributes its products in domestic market and to overseas markets.