Sino Biopharmaceutical Funding Future Acquisition

Sino Biopharmaceutical placed 185 million of new shares with its controlling shareholder, Tse Ping, raising $79 million. Tse has sold an equal number of shares to third-party investors. The company said it would use the new capital for a single acquisition, for which discussions have been underway since January. Those discussions remain at an early stage, according to a filing. More details... Stock Symbol: (HK: 1177)