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Article: Starr International to acquire stake in Techpool Bio-Pharma.
- Article from:
- China Business News
- Article date:
- June 5, 2009
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Starr International to acquire stake in Techpool Bio-Pharma
Shanghai. June 5. INTERFAX-CHINA - Guangdong Techpool Bio-Pharma Co.
Ltd. will issue 20 million new shares to Switzerland-based Starr International Finance AG, Techpool Bio-Pharma's parent company Shanghai Industry Pharmaceutical Investment Holding Co. Ltd. announced on June 5.
According to the announcement, the share acquisition is worth RMB 100 million ($14.64 million) at RMB 5 ($0.73) per share, with Starr International expected to complete the transaction before Dec. 31 this year. Techpool Bio-Pharma will use the cash raised to strengthen the company's fixed assets, marketing, ...