Tianjin Pharmaceutical Da Ren Tang to Provide 832.7 Million Yuan Guarantee for Subsidiary

MT Newswires

2024-09-12

Tianjin Pharmaceutical Da Ren Tang (SGX:T14, SHA:600329) plans to provide an 832.7 million yuan guarantee for its subsidiary Tianjin Zhongxin Medicine, according to a Wednesday filing on the Singapore Exchange.

The guarantee is part of a broader plan to support Tianjin Zhongxin's ongoing operations and facilitate the restructuring of its entrusted loans.

The guarantee will be provided as part of a joint and several liability agreement with Tianjin Pharmaceutical Holding, another shareholder in Tianjin Zhongxin.

It corresponds to Tianjin Pharmaceutical Da Ren Tang's 43.35% stake in Tianjin Pharmaceutical Group Taiping Medicine.

The guarantee requires shareholder approval at an upcoming extraordinary general meeting.

Price (SGD): S$2.05, Change: S$+0.020, Percent Change: +0.99%

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