Changchun High-Tech Subsidiary to Acquire 51% Stake in Chun'an Biopharma via Capital Increase
Mar 17, 2022 10:42
CST Updated
10:42
CHANGCHUN HIGH-TECH
Pharmaceutical R&D Developer
GenSci
Gene Engineering Pharmaceutical and Growth Hormone Producer
Coval Biopharma
Pharmaceutical R&D and Manufacturing
On March 16, 2022, CHANGCHUN HIGH-TECH announced that its subsidiary GenSci plans to acquire 51% of Coval Biopharma's equity in three phases through capital increase and share expansion using its own funds.
This is the first phase, which involves acquiring 30% of Coval Biopharma's equity based on its current valuation. The total investment for this phase is expected to be 103 million yuan.
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