June 29, 2007 – Beijing Double-Crane Pharmaceutical Co. Ltd., which trades on the Shanghai exchange, will offer up to an additional 40 million shares of its stock to qualified investors. A large number of those shares will go to Double-Crane’s parent, Beijing Pharmaceutical Group, which will exchange the shares for the remaining portions of Double-Crane’s five operating divisions that are still in BPG’s hands. After the transaction, Double-Crane will own 100% of the five operating divisions, and BPG will own a slightly larger number of shares of Double-Crane. We look at the deal...
