Golden Meditech To Raise $32 Million From Existing Investors

by Richard Daverman, PhD

November 20, 2013 -- Golden Meditech, a China medical device company headquartered in Beijing, plans to raise about $32 million by offering existing shareholders a new share in the company for every two shares they already own. The price is a very low HK$0.50 each. At the time of the announcement, Golden Meditech was selling for HK$0.92, though the news dropped the stock 11% to HK$0.82. The transaction could provide a large benefit to Golden Meditech’s three major backers, who collectively own 53% of the company’s outstanding shares. More details....

Stock Symbols: (HK: 801; TW: 910801)

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