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Hubei Biocause Pharma Buys Guohua Life Insurance Stake for $1.2 Billion

publication date: Jan 22, 2015
Hubei Biocause Pharma raised $1.6 billion in a private placement from its largest shareholder, Yiqian Liu and his family. Hubei Biocause will allocate $1.2 billion of the capital to purchase a 44% stake in Guohua Life Insurance, a China company based in Shanghai. The purchase gives Hubei Biocause majority control of Guohua, since it already owned a 7.4% stake. The private placement will raise the Liu family's holdings in Hubei Biocause from 24% to 76%. More details....

Stock Symbol: (SHE: 000627)

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