Tianjin Pharmaceutical Group Finance to Raise Capital to 1 Billion Yuan

MT Newswires09-09

Tianjin Pharmaceutical Da Ren Tang Group unit Tianjin Pharmaceutical Group Finance, a non-bank financial institution, plans to increase its registered capital from 500 million yuan to 1 billion yuan to meet regulatory requirements, according to a Friday filing on the Singapore Exchange.

This follows Tianjin Pharmaceutical Holdings (TPH) acquiring an additional 15% stake in Tianjin Pharmaceutical Group Finance, raising its ownership to 30%.

To comply with financial regulations, Tianjin Pharmaceutical Group Finance's shareholders, including Tianjin Pharmaceutical Holdings, the company, Tianjin Yaoye, and Tianjin Jin Yi Investment, have agreed to a proportional capital increase.

Tianjin Pharmaceutical Group Finance will contribute 150 million yuan, about 2.3% of its latest audited net tangible assets of 6.53 billion yuan.

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