Gelonghui, May 10 | Tianjin Development (00882.HK) announced that Lisheng Pharmaceutical (an indirect non-wholly-owned subsidiary of the company) plans to sell all 24.65% of its shares in Tianjin Tianbian through a public listing and sale process. The minimum listing price for the potential sale is RMB 120 million.
Tianjin Tanabe is a limited company established in China. It is mainly engaged in the production, processing and sale of Chinese and Western medicines, chemicals, APIs, reagents, biopharmaceuticals and related services, as well as providing pharmaceutical information consultation. The potential sale is in line with Lisheng Pharmaceuticals' overall strategic plan. The Board believes that the potential sale (if implemented) will enhance the operational efficiency of the Group's assets, optimize the Group's resource allocation, and enhance the Group's cash flow.