- Joincare Pharmaceutical Group Industry Co. (600380.SS) plans to issue 300 million shares at RMB 9.49 per share to raise RMB 2.85 billion through a non–public offering, according to Sohu.
- Shares of Joincare Pharmaceutical will resume trading on November 25.
Why It Matters:
- Joincare Pharmaceutical plans to use the funds for two projects: medicine production lines in Haibin City and projects in Zhuhai which offer comprehensive health services to clients.
- The company expects the fund raising will assist the company to improve its capital structure and strengthen its leading position in the pharmaceutical sector.
- Shenguang Securities suggests that the two new projects can help the firm explore new revenue generators.