CHINESE STOCK ISSUE IN HONG KONG
The China Pharmaceutical Industry Company, a Hong Kong subsidiary of the Shijiazhuang No 1 Pharmaceutical Plant in China, was expected to start issuing stocks in Hong Kong at the end of June. The company is China's first pharmaceutical enterprise to issue shares in Hong Kong.
The CPILC, established as a shareholding company at the end of 1992, is understood to have issued 186 million shares or 31% of the total in the enterprise. By selling the shares, the company hopes to raise 200 million yuan ($39 million) for the construction of the Hebei Weibao Pharmaceutical Co in the Shijiazhuang economic and technological development zone.
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