Livzon Pharmaceutical (HKG:1513, SHE:000513) agreed to acquire around 3.5% shares in Livzon Group Xinbeijiang Pharmaceutical from Zhuhai Zhong Hui Yuan Investment Partnership for roughly 106.7 million yuan.

Following completion, the company's direct shareholding in the target will increase to 90.64% from 87.14% previously, according to a Friday Hong Kong bourse filing.

Livzon Group Xinbeijiang Pharmaceutical engages mainly in the production of APIs and intermediates.