Kelly Pharmaceutical's subsidiary Chuanning Biological GEM IPO has been approved by 600 million yuan to raise nearly 70 % for debt repayment

Red Star Capital August 14 news, Kelun Pharmaceutical (002422.SZ) announced that it is planned to disassemble the subsidiary of the holding subsidiary of Yili Chuanning Biotechnology Co., Ltd. (hereinafter referred to as "Chuanning Biological") to the Shenzhen Stock Exchange GEM to be listed on the market Essence

The results of the review show that Chuanning Bio (starting) meets the issuance conditions, listing conditions and information disclosure requirements. Coron Pharmaceutical pointed out that the launch of Sichuan -Ning Biosais still needs to perform the registration procedures for the Securities Regulatory Commission, and there is still uncertainty.

In June 2021, the Corey Pharmaceutical Shareholders' General Assembly agreed to split the subsidiaries Sichuan Ning Biosaido. In August of the same year, the Sichuan -Ning Biological Listing application was accepted by the GEM.

Equity penetration shows that the largest shareholder of Sichuan Ning Bio is Kelun Pharmaceutical, with a shareholding ratio of about 78.5%.

According to public information, Chuanning Biological is an antibiotic intermediate manufacturer. It uses biological fermentation, chemical extraction and enzymatic disintegration technology to provide users with products such as thiocyanic acid, cephalosporid series intermediates. With the combination of thermal power, the comprehensive governance of "three wastes" is used in environmental protection and recycled.

It is reported that Sichuan Ning Bioskin planned to raise 600 million yuan in this time, of which 200 million yuan was used for the construction project of the Shanghai Research Institute, and 400 million yuan was used to repay bank loan projects.

Red Star News reporter Deng Lingyao

Responsible editor Deng Yiguang Editor Xiao Ziqi

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