Tianjin Pharmaceutical Approves Major Equity Disposal

Tianjin Zhongxin Pharmaceutical Group Corp. Ltd. Class S (SG:T14) has released an update.

Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited has passed resolutions at their latest board meeting to approve the sale of a 13% stake in Tianjin TSKF Pharmaceutical Co., Ltd. to Haleon China Co., Ltd. for RMB 1.75 billion, as part of a larger disposal involving its controlling shareholder. Post-transaction, the company will retain a 12% stake, with the controlling shareholder exiting the joint venture. The board confirmed the accuracy and fairness of the information provided, with interested directors abstaining from the vote.

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