Sirio Pharma Plans to Raise RMB 1 Billion Yuan (USD $150 Million)

On the evening of March 26th, Sirio Pharma’s application for the issuance of convertible bonds to unspecified parties was approved by the Chinese Securities Regulatory Commission. In total, Sirio Pharma plans to raise RMB 1 billion yuan (USD $150 million), of which about RMB 700 million yuan (USD $107 million) will be invested in the Maanshan production base, in order to expand production capacity for nutritional gummies, functional beverages, and health product powder. Sirio Pharma also believes that nutritional health foods are changing from traditional pharmaceutical forms to food-based forms. (Source: Shuzhengkangxun)