Livzon Of China Changes Outdated Funding Mechanism
This article was originally published in PharmAsia News
China's Livzon Pharmaceutical Group is trying a new funding mechanism to replace a method that has become passé in the local drug-making business. Livzon plans to spend $20.5 million to buy back shares of its stock if shareholders approve the move in a June 20 vote. The low-level shares were introduced in 1992 to attract foreign investors, but when the Chinese government opened the higher levels of its stock market to foreigners, the lower-level shares lost their allure. (Click here for more
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