Sihuan Pharmaceutical Holdings Group (HKG:0460) made a capital increase in Hainan Meifu Medical Device to increase its presence in the aesthetics market, according to a Tuesday filing with the Hong Kong bourse.
Meiyan Space, a non-wholly owned subsidiary of Sihuan, will invest 25.5 million yuan, while Hainan Temmei, a connected party but not a subsidiary of the company, will invest 23.5 million yuan.
This move raised Meifu's registered capital to 50 million yuan, with Meiyan holding 51% and Hainan Temmei 49%.
The pharmaceutical company's shares were 5% higher in recent trading.
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