| Search by tag or site | Login to my blog ? Start my own blog |
 |
BioHealth InvestorBioHealth Investor (BHI) is a blog and journal focused on providing updated commentary and financial news from the biotech and medical technology industry. BHI's content is featured on Yahoo!Finance, Google Finance, TheStreet.com, SeekingAlpha.com and many other blogs and websites. BHI is also a proud member of The Business of Biotech Network, and the Investors Blog Network. |
Beijing Double-crane Offers New Shares
Posted on 07/01/2007 01:57:40 | Link | Post Comment
by Richard Daverman, PhD
ChinaBio Today
Restructures Relationship with Parent Company
Beijing Double-Crane Pharmaceutical Co. Ltd., which trades on the Shanghai exchange, will offer up to an additional 40 million shares of its stock to qualified investors.
A large number of those shares will go to Double-Crane’s parent, Beijing Pharmaceutical Group, which will exchange the shares for the remaining portions of Double-Crane’s five operating divisions that are still in BPG’s hands. After the transaction, Double-Crane will own 100% of the five operating divisions, and BPG will own a slightly larger number of shares of Double-Crane. Double-Crane will also receive some real-estate assets.
The exact number of shares was not released, though BPG will be restricted to a maximum of 30 million shares.
In addition to the BPG shares, Double-Crane will offer shares to outside investors. The company expects to raise 449.42 million RMB ($58.98 million), which will be used to expand Beijing Double-Crane Pharma's transfusion production lines.
At present, Beijing Pharmaceutical Group owns a 49% stake in Beijing Double-Crane, enough to be considered the controlling shareholder. The realignment is thought to be part of the government’s restructuring of its state-owned pharmaceutical companies.
Beijing Double-Crane Pharmaceutical produces, processes and sells pharmaceutical products, mainly in three broad areas: cardiovascular medicines, endocrine secretion drugs and infusion solutions. In 2006, the company had revenues of 4.05 billion, a decline of 12% from the previous year. Earnings were also 12% lower, at 165 million RMB. Beijing Double-Crane blamed the downturn on a change in the number of consolidated entities under its control.
The shares of Beijing Double-Crane ended the day at RMB 18.07. There are 441 million shares of the company outstanding (before the restructuring), giving the company a market capitalization of 8 billion RMB ($1 billion).
RELATED READING:
- China Aims to Modernize Traditional Chinese Medicine
- China Sets Lofty Goals for its Bioindustry
- Healthcare Park to be Built in Suzhou, China
ChinaBio Today is a regular contributor to BioHealth Investor
_______________
ChinaBio Today
Restructures Relationship with Parent Company
Beijing Double-Crane Pharmaceutical Co. Ltd., which trades on the Shanghai exchange, will offer up to an additional 40 million shares of its stock to qualified investors.
A large number of those shares will go to Double-Crane’s parent, Beijing Pharmaceutical Group, which will exchange the shares for the remaining portions of Double-Crane’s five operating divisions that are still in BPG’s hands. After the transaction, Double-Crane will own 100% of the five operating divisions, and BPG will own a slightly larger number of shares of Double-Crane. Double-Crane will also receive some real-estate assets.
The exact number of shares was not released, though BPG will be restricted to a maximum of 30 million shares.
In addition to the BPG shares, Double-Crane will offer shares to outside investors. The company expects to raise 449.42 million RMB ($58.98 million), which will be used to expand Beijing Double-Crane Pharma's transfusion production lines.
At present, Beijing Pharmaceutical Group owns a 49% stake in Beijing Double-Crane, enough to be considered the controlling shareholder. The realignment is thought to be part of the government’s restructuring of its state-owned pharmaceutical companies.
Beijing Double-Crane Pharmaceutical produces, processes and sells pharmaceutical products, mainly in three broad areas: cardiovascular medicines, endocrine secretion drugs and infusion solutions. In 2006, the company had revenues of 4.05 billion, a decline of 12% from the previous year. Earnings were also 12% lower, at 165 million RMB. Beijing Double-Crane blamed the downturn on a change in the number of consolidated entities under its control.
The shares of Beijing Double-Crane ended the day at RMB 18.07. There are 441 million shares of the company outstanding (before the restructuring), giving the company a market capitalization of 8 billion RMB ($1 billion).
RELATED READING:
- China Aims to Modernize Traditional Chinese Medicine
- China Sets Lofty Goals for its Bioindustry
- Healthcare Park to be Built in Suzhou, China
ChinaBio Today is a regular contributor to BioHealth Investor
_______________
- Mri To Lead Growth In Medical-imaging Market
- Malaria And Hiv - Eradication And Treatment
- Dragon’s New Production Process To Cut Costs
- Mrsa Update: Cepheid, Basilea And Nektar
- If Only Us Health Care Could Be More Like The Patriots (or Even The Red Sox) And Less Like The Yankees
- e-techblog
- Wishing Wealth
- Financial Skeptic
- Don't Mess With Taxes
- Millionaire Now! by Larry Nusbaum
- 360 Digest
Examples
Morpheus Trading - Thu Jul 17, 2008 01:15AM
NOTE: Please click on the charts below to enlarge them if th [read more]
NOTE: Please click on the charts below to enlarge them if th [read more]
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
The Swing of Things - Thu Jul 17, 2008 09:36AM
I used to make a pretty good living sharing hard won [read more]
I used to make a pretty good living sharing hard won [read more]
<< My Home | TheMoneyBlogs Home