Zhejiang Medicine Drops Price on Private Placement

Published: Feb 13, 2012

February 13, 2012 -- Zhejiang Medicine reduced the price of an upcoming private placement from 27.98 RMB to 18.73 RMB per share, reflecting a drop in the company’s stock price. One year ago, Zhejiang was trading hands at over 38 RMB, but it has slipped to 22.60 currently. The price of the private placement represents a discount of about 17% to the market. Zhejiang, which makes antibiotics, vitamin H and carotene, will offer 70 million shares to raise 1.6 billion RMB ($254 million). More details....

Stock Symbol: (SHA: 600216)

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