Kangmei Pharmaceutical Co., Ltd. announced that it expects to receive CNY 6.5 billion in funding from Guangdong Shennong Enterprise Management Partnership (Limited Partnership), GF Securities Co., Ltd., Investment Arm, Wuhu Xintongrui Enterprise Management Center (Limited Partnership), Shenzhen Zhaoping Linghang Investment Center (Limited Partnership), China Resources Shenzhen International Investment Trust Co., Ltd.
December 13, 2021
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Kangmei Pharmaceutical Co., Ltd. announced that it has entered into agreement for a private placement of 4,145,296,141 shares for not more than gross proceeds of CNY 6,500,000,000 on December 14, 2021. The transaction will involve participation from Guangdong Shennong Enterprise Management Partnership (Limited Partnership) for 3,509,413,788 shares for CNY 5,419 million, GF Securities Co., Ltd., Investment Arm for 282,941,177 shares for CNY 481 million, Wuhu Xintongrui Enterprise Management Center (Limited Partnership) for 176,470,588 shares for CNY 300 million, and two other investors for 176,470,588 shares for CNY 300 million. Post the closing, Guangdong Shennong Enterprise Management Partnership (Limited Partnership) will hold 25.3134% stake in the company. The shares to be issued will have a hold period of 36 months, for Guangdong Shennong Enterprise Management Partnership (Limited Partnership), and 12 months for rest of the investors. The transaction is expected to close in full before December 15, 2021, the investors will have a two-day grace period, which ends on December 17, 2021, investors shall pay all investment funds within the grace period.
Kangmei Pharmaceutical Co., Ltd. develops, produces, and sells pharmaceutical products intended primarily for treating hypertension and colds. The group offers Chinese medications (ginseng, salvia, codonopsis, etc.) and chemical medications (clarithromycin, doxazosin mesylate, paracetamol, etc.).
All sales are earned in China.