Conba Pharmaceutical Plans $148 Million Private Placement

May 14, 2012 -- Zhejiang Conba Pharma will raise as much as 925 million RMB ($148 million) via a private placement of 120 million shares at 7.71 RMB each. The funds will be used to boost working capital, according to a company filing. Insiders will purchase the entirety, or at least the majority, of the offering. The new funds add about 15% to Conba's capital base, as the company currently has a market capitalization of $1 billion. More details....

Stock Symbol: (SHA: 600572)