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9 months ago
BRIEF-Tianjin Tianyao Pharmaceuticals adjusts acquisition plan via new share issuance and cash payment
October 12, 2016 / 8:41 AM / 9 months ago

BRIEF-Tianjin Tianyao Pharmaceuticals adjusts acquisition plan via new share issuance and cash payment

1 Min Read

Oct 12 (Reuters) - Tianjin Tianyao Pharmaceuticals :

* Says it will issue 131 million A shares at 5.55 yuan per share and pay 290.9 million yuan, to three companies, in exchange for 62 percent stake in a Tianjin-based pharma company

* Says the discreet value of the target is 1.16 billion yuan

* It will issue 82.3 million new shares at the price of 5.59 yuan per share through private placement to raise up to 460 million yuan

Source text in Chinese: goo.gl/kvIcL7; goo.gl/jaG5EB

Further company coverage: (Beijing Headline News)

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