Fangsheng Pharmaceutical’s IPO Application Been Approved
In a statement at the evening of October 22nd, the IPO application of Hunan Fangsheng Pharmaceutical Co., Ltd. (Fangsheng Pharmaceutical) was approved by the CSRC.
Fangsheng Pharmaceutical, founded in 2002 and restructured in September 2009, is specialized in manufacturing Panax notoginseng Saponins, Cefixime tablets and pediatric drugs. It has been rated as Hunan High-tech Enterprise, Hunan Quality Credit AAA Enterprise, Hunan Third-batch Innovation Pilot Enterprise, Changsha Innovation Demonstration Enterprise 2012, etc.
In 2010, JD Capital’s medical fund invested 60 million yuan in the company to take 15% of its shares, becoming its second largest shareholder.
Since China reopened the market for initial public offerings, UTour Travel, FEITIAN, Liuzhou Pharmaceutical and IDEAR HANYU invested by JD Capital have been listed or prepared to be listed. In addition, Jianeng Energy has completed a backdoor listing after buying Huafang Textile and Sino Great Wall has announced its backdoor listing scheme through buying Shenzhen Victor Onward Textile.