Liaoning Cheng Da Subsidiary to Invest $5 Million in Healthcare Fund

MT Newswires Live

09/23

Liaoning Cheng Da (SHA:600739) subsidiary Chengda Steel Hong Kong will invest $5 million as a limited partner in a biopharmaceutical and healthcare fund, according to a Wednesday filing with the Shanghai bourse.

The investment is equivalent to 12.95% of the Likon Venture Fund II Limited Partnership, which has so far raised $38.6 million.

The fund will invest in innovative drugs, medical devices, medical diagnostic equipment and reagents, and related service areas.

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