Tianjin Pharmaceutical Da Ren Tang (SGX:T14, SHA:600329) has proposed to dispose its remaining 12% stake in Tianjin TSKF Pharmaceutical to Haleon China and Haleon CH, according to a Tuesday filing with the Singapore Exchange.
The company has proposed to transfer 4.6% equity in TSKF to Haleon China for 622.3 million yuan and 7.4% interest to Haleon CH for around 1.0 billion yuan.
Proceeds from the disposal will be used for business expansion, enhancing research and development capabilities and for working capital and general corporate purposes, Tianjin Pharma said.
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