PE investors to participate in $645m China TCM placement
GIC Private, China Renaissance Capital Investment (CRCI) and GL Capital Group are among 26 investors subscribing to a HK$5 billion ($645 million) share placement by China Traditional Chinese Medicine (China TCM), intended to generate capital for acquisitions.
The company is selling approximately 1.1 billion shares at HK$4.68 apiece, according to a regulatory filing. GIC will pay HK$488.2 million for 104.3 million shares, taking a 2.43% stake. CRIC and GL Capital...
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