Zhejiang Hisoar Pharmaceutical Raises $79 Million for Capital Projects

February 25, 2011 -- Zhejiang Hisoar Pharmaceutical will raise 520 million RMB ($79 million) in a private placement, issuing 25 million shares at 20.92 RMB ($3.18) each. Hisoar’s Chairman, Li Wei, will buy at least 10% of the offering. The great majority of the proceeds is earmarked for two major capital projects. Hisoar said the projects will add around 1.2 billion RMB ($182.5 million) in annual sales, once they are completed. More details....

Stock Symbol: (SHE: 002099)