A worker operates at the workshop of a pharmaceutical company in Shijiazhuang, north China's Hebei Province, Jan. 14, 2022. (Xinhua/Yang Shiyao)
BEIJING, July 8 (Xinhua) -- Sirio Pharma Co., Ltd. (300791.SZ), a Chinese leading integrated contract manufacturer for the dietary supplement industry, on Thursday announced share issuance plan with the raised funds to buy 80 percent stake in Best Formulations Inc, a U.S. nutraceutical and pharmaceutical company.
The issuance plans to raise no more than 1.35 billion yuan, out of which 180.12 million U.S. dollars (approximately 1.211 billion yuan) would be used for acquiring an 80 percent stake in Best Formulations and the rest for issuance expenses as well as working capital replenishment.
Headquartered in California, Best Formulations is a leading contract, development and manufacturing organization (CDMO) for nutritional supplements including softgels, tablets, capsules, powders, teas, and drugs. (Edited by Zhong Xinpei, Niu Huizhe with Xinhua Silk Road, niuhuizhe@xinhua.org)
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