China-based Guangdong Zhongsheng Pharmaceutical Co., Ltd (SHE: 002317) is poised to raise RMB 600 million (USD 84 million) through a private placement of 38,969,401 shares, priced at RMB 15.36 per share. This strategic move aims to bolster the company’s financial position and support its expansion plans.
Focus on Core Business Expansion
Zhongsheng Pharma, recognized as a high-tech enterprise, specializes in therapeutic areas such as ophthalmology, cardiovascular and cerebrovascular diseases, respiration, and digestion. The company plans to channel the proceeds from this private placement into enhancing its main business operations, which include the development and commercialization of pharmaceutical products in these key areas.
Strategic Investment in Pharmaceutical Innovation
The fundraising initiative reflects Zhongsheng Pharma’s commitment to investing in its core competencies and expanding its market presence. By allocating resources to strengthen its operations, the company is well-positioned to capitalize on growth opportunities in the pharmaceutical sector, particularly in the high-demand areas of ophthalmology and cardiovascular health.-Fineline Info & Tech
