Anhui Tingworld Pharmaceutical Co., Ltd announced that it expects to receive funding from Daito Pharmaceutical Co.,Ltd. and another investor
March 07, 2019
Share
Anhui Tingworld Pharmaceutical Co., Ltd announced that it will received $3 million on March 8, 2019. The company will increase common shares in the transaction. The transaction will include participation from new investor Daito Pharmaceutical Co.,Ltd. (TSE:4577) which will invest $1.44 million. Post the closing of the transaction, Daito Pharmaceutical Co.,Ltd. (TSE:4577) will hold 12% stake and Jinding Enterprise Co., Ltd will hold 88% stake in the company. The funding will come as a part of third party capital increase. The transaction was approved by the board of directors of the investor.
Daito Pharmaceutical Co., Ltd. is a Japan-based company mainly engaged in the pharmaceutical ingredients and formulation business, as well as healthy food. The pharmaceutical ingredients business is engaged in the manufacture, purchase, sale and entrusted manufacture business of pharmaceutical ingredients used as raw materials for pharmaceutical manufacture and formulation. The formulation business is engaged in the manufacture, purchase, sale and entrusted manufacture business of prescription pharmaceuticals and pharmaceuticals for general-use medicines.
DAITO PHARMACEUTICAL CO.,LTD. 
