Tuesday, December 7, 2010

China Botanic Pharmaceuticals (CBP) taps the equity market

S-1 Public Offering

China Botanic Pharmaceuticals intends to raise $10.000.000 for strategic acquisitions, working capital and other general corporate purposes, as more fully discussed in the section entitled “Use of Proceeds”.

I guess they are preparing an acquisition than cannot be funded with their cash on the balance sheet, otherwise why you should raise so much.

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