China-based Huaren Pharmaceutical Co., Ltd is set to raise RMB 1.34 billion (USD 194.8 million) through a private placement of 355 million shares. The funds raised will be allocated towards several key projects, including the expansion of peritoneal dialysate production capacity, construction of a drug packaging material production base, development of a large-capacity preparation production base, and the establishment of a research and development center. Additionally, the proceeds will be used for supplementary working capital and the repayment of bank loans.
Investing in Growth and Innovation
Founded in 1998, Huaren Pharma has established itself as a leader in the industry, boasting the largest production factory of non-PVC soft bag infusion monomers in China. This capital raise is a strategic move to further solidify the company’s position in the pharmaceutical market by enhancing production capabilities, improving packaging material infrastructure, and bolstering research and development efforts.
Enhancing Production and Reducing Financial Leverage
The investment in a peritoneal dialysate production capacity expansion project and the construction of a drug packaging material production base will enhance Huaren Pharma’s ability to meet the growing demand for its products. The large-capacity preparation production base construction project will increase the company’s manufacturing capabilities, while the research and development center construction project will drive innovation and improve product development. The allocation of funds towards supplementary working capital and bank loan repayments will also strengthen the company’s financial position.-Fineline Info & Tech
