CR Sanjiu Proposes to Buy Wealth Management Products for Up to 10 Billion Yuan

MT Newswires Live

Aug 24

China Resources Sanjiu Medical & Pharmaceutical (SHE:000999) proposed to acquire wealth management products for up to 10 billion yuan, according to a Saturday disclosure on the Shenzhen bourse.

The pharmaceutical company's shares fell 2% at the close of Monday's trade.

Out of the proposed amount, the company's subsidiaries, Kunming Pharmaceutical Group and Tasly Pharmaceutical Group, will have a quota of 2 billion yuan and 4 billion yuan, respectively.

The term of each product will not exceed six months.

The board of directors approved the proposal.

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