Date
20 October 2017

Shuang Long to buy Jinbao for 1.08 bln yuan, filing says

Tong Hua Shuang Long Chemical Industry Co. Ltd. (300108.CN) will buy 100 percent of Jilin Jinbao Pharmaceutical Co. Ltd. for 1.08 billion yuan (US$178.18 million), it said in a regulatory filing Thursday. The transaction will be paid for with new shares and cash. Jinbao Pharmaceutical, which develops, produces and sells drugs, posted a net profit of 97.04 million yuan in 2013, the filing said. Shuang Long has been suspended from trading for the past three months. 

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TL/AC/RA

 

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