Cnstock.com
Shanghai RAAS Blood Products will issue a total of 93,652,444 shares, at a nominal price of RMB 19.22 per share, to acquire a 100% stake in Banghe Pharma. The shares value Banghe at 1.8 billion RMB ($290 million). Both companies make biologic plasma-derived products. In addition, RAAS will sell 26 million shares to RAAS China Limited, also at 19.22 RMB per share, to raise 500 million RMB ($80 million). The company will invest the proceeds into developing Banghe’s business.
Banghe promised to earn at least RMB82 million, RMB104million and RMB134million net profit from 2013 to 2015.