Since its IPO last year, the market value of Sirio Pharma Co has doubled. Although it has fallen back from its high point, as of the close of trading on December 8, 2020, the market value is still as high as RMB 10.6 billion yuan (USD $1.6 billion). On December 7, Sirio Pharma Co announced that it intends to raise RMB 1 billion (USD $150 million) (inclusive) by issuing convertible bonds to unspecified targets. A convertible bond is a hybrid security equivalent to a loan with certain call warrants that may increase the total shares of the company by a small amount. According to the disclosed prospectus (filing draft), the projects that Xianle Health plans to invest include: Ma’anshan Production Base Expansion Project, Eastern China R&D Center Construction Project, Digital Information Technology Construction Project, and supplemental working capital. (Source: Shuzhengkangxun)

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