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 22/01/2010
[Industry news]
Sinovac plans to sell 8.6 mn common shares
Chinese vaccine major, Sinovac Biotech is planning to sell 8.65 million common shares of the company in an underwritten public offering. Sinovac plans to grant the underwriters an option to purchase up to an additional 1.29 million common shares to cover over allotments.
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Chinese vaccine major, Sinovac Biotech is planning to sell 8.65 million common shares of the company in an underwritten public offering. Sinovac plans to grant the underwriters an option to purchase up to an additional 1.29 million common shares to cover over allotments.
The company said it will use the net proceeds of the offering to fund the acquisition and expansion of production facilities, enhancement of production lines, research and development, expansion of product pipeline, and general corporate purposes, including an undetermined amount for potential acquisitions. |
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