Yunnan Baiyao To Get Investment From Ping An Life Insurance
This article was originally published in PharmAsia News
Yunnan Baiyao Group has announced it will be issuing no more than 10 percent of its shares to Ping An Life Insurance Company of China. The latter's parent company Ping An Insurance Group says that with the deal still at the negotiation stage, it is not at liberty to reveal more details. However, analysts estimate that Yunnan Baiyao's enlistment of Ping An Life Insurance as an investor may raise roughly RMB1.6 billion. Industry insiders say the move represents Yunnan's strategy to expand its production capacity; the funds sought will be used for developing new products, likely to be in cosmetic medicine. (Click here for more - Chinese Language)
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