Hubei Biocause Pharma Buys Guohua Life Insurance Stake for $1.2 Billion

Hubei Biocause Pharma raised $1.6 billion in a private placement from its largest shareholder, Yiqian Liu and his family. Hubei Biocause will allocate $1.2 billion of the capital to purchase a 44% stake in Guohua Life Insurance, a China company based in Shanghai. The purchase gives Hubei Biocause majority control of Guohua, since it already owned a 7.4% stake. The private placement will raise the Liu family's holdings in Hubei Biocause from 24% to 76%. More details.... Stock Symbol: (SHE: 000627) Share this with colleagues: // //