Guizhou Yongji Printing (SHA:603058) plans to acquire Phytoca Holdings for AU$62 million, according to a Shanghai Stock Exchange filing on Saturday.
The Chinese packaging printed matter manufacturer will acquire the Australian controlled drug supplier through its second-level, wholly-owned subsidiary Y Cannabis Holdings.
Phytoca's products include finished products and semi-finished products, which are sold in the form of dried plant flowers, medical ingredient extracts, medical essential oils, medical atomization products and edible products. The company selects and purchases from overseas drug raw materials suitable for the Australian market.
Yongji Printing's shares closed 10% lower.
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