Landfar Bio Medicine Ups Stake in Loudi Jinhong New Materials to 55%

MT Newswires Live09-25

Landfar Bio Medicine (SHE:000504) completed the acquisition of a 43.05% equity in Loudi Jinhong New Materials, according to a Shenzhen bourse filing on Thursday.

The Chinese biomedical technology company bought the stake from Hunan Jinhong Renewable Resources Group for 48.6 million yuan.

After the completion, Landfar's stake in Loudi Jinhong rose to 55% and has received Loudi Jinhong's new business license from the local government of China's Loudi City.

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