Tianjin Pharmaceutical Da Ren Tang (SGX:T14, SHA:600329) has proposed to dispose its remaining 12% stake in Tianjin TSKF Pharmaceutical to Haleon China and Haleon CH, according to a Tuesday filing with the Singapore Exchange.
The company has proposed to transfer 4.6% equity in TSKF to Haleon China for 622.3 million yuan and 7.4% interest to Haleon CH for around 1.0 billion yuan.
Proceeds from the disposal will be used for business expansion, enhancing research and development capabilities and for working capital and general corporate purposes, Tianjin Pharma said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.