China Resources Pharma Unit Gets China Acceptance for 5 Billion Yuan Bond Issue; Shares Climb 3%

MT Newswires Live

06/01

A unit of China Resources Pharmaceutical Group (HKG:3320) obtained a registration acceptance notice for the proposed issue of medium-term bonds from the National Association of Financial Market Institutional Investors, according to a May 29 Hong Kong bourse filing.

Shares of the pharmaceutical firm were up over 2% in Monday afternoon trading.

The acceptance will allow unit China Resources Pharmaceutical Holdings to issue up to 5 billion yuan of bonds in various tranches within two years.

Proceeds from the issue are expected to be used to replenish working capital and repay debt among other uses.

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