Asia
Walvax Biotechnology to See Change in Control Following Private Placement
Walvax Biotechnology (SHE:300142) is looking to raise up to 2.20 billion yuan from the sale of nearly 208 million shares to Beijing Tengyun Xinwo Biotechnology Partnership under a private placement plan, according to a Tuesday disclosure to the Shenzhen Stock Exchange.Following the sale, Tengyun will hold 14.46% of the voting rights in the vaccine manufacturer and will become the controlling shareholder.Huang Tao, Tengyun's actual controller, will also become Walvax's actual controller.Proceeds will help replenish working capital.
SHE:300142
