Yunnan Baiyao Completes New Shares Issuance to Finance Relocation      

After raising RMB1.394 billion in cash through issuing 50 million of new domestic RMB shares, Yunnan Baiyao Group Co., Ltd. (SZ: 000538) gets ready for relocation and increasing an investment for its subsidiary, according to the company on January 6th.
   Yunnan Baiyao plans to spend RMB1.0889 billion for its relocation and RMB300 million for increasing investment for Yunnan Medicine Co., Ltd.
   With the ongoing expansions in recent years, the existing 2.6 hectares site of Yunnan Baiyao can not meet needs of expansion in production and logistics, which has constrained its growing strategy in future. The company has selected new site at Chenggong New Zone, Kunming, Yunnan province.
    The extra fund will support the expansion of Yunnan Medicine to enhance its competitive edge.
    Yunnan Baiyao is a leading Chinese traditional medicine manufacturer in China, headquartered in Kunming, with its 18 subsidiaries nationwide.