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Zhong Lun Advises Tecon Biotech in Assets Purchase via Private Placement
Zhong Lun Advises Tecon Biotech in Assets Purchase via Private Placement
Zhong Lun advised Xinjiang Tecon Animal Husbandry Bio-Technology Co,. Ltd (“Tecon Biotech", 002100.SZ) in its recent assets purchase via a private placement of 10.81 million shares to Henan Hongzhan Investment Co,. Ltd (“Hongzhan Investment"), an independent third party. The transaction was counseled by Zhong Lun’s legal team consisting partner Hongda Lu and associates Xiaoming Song, Zhoujun Tang and Bo Jiang, who provided legal advice for the issuing company.
This landmark transaction, through which Tecon Biotech is expecting to acquire two subsidiaries of Hongzhan Investment, has been examined and approved by China Securities Regulatory Commission (CSRC) on June 20, making Tecon Biotech the first listed company in the Chinese Mainland to be approved by CSRC to purchase assets via private placement with an independent third party.