Fosun buys additional Tongjitang Chinese Medicines ADSs

By Lisa Kerner

Charlotte, N.C., March 24 - Tongjitang Chinese Medicines Co. investor Fosun Industrial Co., Ltd. purchased 379,635 American Depositary Shares, representing 1,518,540 of the company's ordinary shares, from March 4 to March 23 at prices between $2.98 and $3.60 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Tuesday.

In a prior SEC filing, Fosun reported the purchase of 423,318 ADSs, representing 1,693,272 of the company's ordinary shares, from Feb. 5 to March 3.

Fosun now beneficially owns 5,864,881 ADSs, each representing four ordinary shares. The ADSs give the investor a 17.35% stake in the company.

Tongjitang is specialty pharmaceutical company located in Shenzhen, China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.