Guangdong Hengshu No. 1 Investment Partnership Enterprise (Limited Partnership) signed an agreement to acquire a 9.98% stake in Xiangxue Pharmaceutical Co.,Ltd. from Guangzhou Kunlun Investment Co., Ltd. for approximately CNY 390 million.
March 09, 2021
Share
Guangdong Hengshu No. 1 Investment Partnership Enterprise (Limited Partnership) signed an agreement to acquire a 9.98% stake in Xiangxue Pharmaceutical Co.,Ltd. (SZSE:300147) from Guangzhou Kunlun Investment Co., Ltd. for approximately CNY 390 million on March 9, 2021. Under the term, Guangdong Hengshu No. 1 Investment Partnership Enterprise acquire 66 million shares of Xiangxue Pharmaceutical at CNY 5.98 per share. Initial payment of CNY 21,78 million within five working days. The first instalment of the share transfer in the account is transferred to the pledgee China Construction Bank Corporation (SEHK: 939) Guangzhou Economic and Technological Development Zone Sub-branch for Guangzhou Kunlun Investment to repay the debts guaranteed by the original share pledge, and at the same time pay the remaining amount of CNY 176.8 million for the share transfer. Post completion, Guangzhou Kunlun Investment Co., Ltd. will hold 21.1815% stake in Xiangxue Pharmaceutical.
XIANGXUE PHARMACEUTICAL CO.,LTD. is a China-based company principally engaged in the research, development, production and distribution of traditional Chinese medicines and herbal decoction pieces. The Company's main products include antiviral oral liquids, indigowoad root granules, Exocarpium Citri Reticulatae series Chinese patent drugs and herbal decoction pieces, among others. The Company is also involved in the manufacture and sale of medical devices, health products, soft drinks and biological products. The Company distributes its products in domestic market.
Guangdong Hengshu No. 1 Investment Partnership Enterprise (Limited Partnership) signed an agreement to acquire a 9.98% stake in Xiangxue Pharmaceutical Co.,Ltd. from Guangzhou Kunlun Investment Co., Ltd. for approximately CNY 390 million.