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BRIEF-Jiangmen Sugarcane to acquire stake in bio-pharma firm for 673.2 mln yuan
December 14, 2016 / 9:37 AM / 9 months ago

BRIEF-Jiangmen Sugarcane to acquire stake in bio-pharma firm for 673.2 mln yuan

Dec 14 (Reuters) - Jiangmen Sugarcane Chemical Factory Group Co Ltd

* Says it plans to acquire 51 percent stake in bio-pharma firm in Hebei for 673.2 million yuan ($97.59 million) via cash, share issue

* Says it plans to raise 100.0 million yuan in private placement of shares to fund acquisition

* Says shares to resume trading on Dec 15

Source text in Chinese: bit.ly/2gHpjbw; bit.ly/2hugsqq

Further company coverage: ($1 = 6.8985 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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