JBM's Subsidiaries to Sell 20% Stake in Chinese Medicine Subsidiary to Jacobson Pharma Unit
MT Newswires Live11-12
JBM's (Healthcare) (HKG:2161) subsidiaries Po Chai Herbal Technology and PCHT Herbal Sciences agreed to sell a 20% stake in Li Chung Shing Tong to Europharm Laboratoires, a subsidiary of Jacobson Pharma (HKG:2633), for HK$46.2 million, a Tuesday Hong Kong bourse filing said.
Li Chung Shing Tong is a Chinese medicine producer and distributor with HK$132.5 million in assets as of Oct. 31.
Upon completion of the deal, Po Chai Herbal will still own 43.9% of the total issued shares of Li Chung Shing Tong, and the target company will remain a subsidiary of JBM.
JBM plans to use the net proceeds of HK$46 million for the general working capital of the group.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
