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Bear bile producer's IPO suspended
By Ke Jiayun |
June 3, 2013, Monday
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Online Edition
Online Edition
THE initial public offering of the Chinese bear bile producer Guizhentang was suspended, said a report released by CSRC on May 31, according to Oriental Morning Post.
"It's premature for us to go public now," Guizhentang's board secretary Wu Ya was quoted as saying. "We think diversifying our products and enlarging enterprise scale are our main priorities right now."
Guizhentang's planned listing was suspended on April 4.
Wu also said Guizhentang had stable earnings last year.
Guizhentang, the Fujian Province-based pharmaceutical company, had experienced a hard time on its path to a stock market listing. It has faced fierce public opposition for harvesting bile from live bears and using it in products, the report said.
The company previously tried to list in February 2012.
"It's premature for us to go public now," Guizhentang's board secretary Wu Ya was quoted as saying. "We think diversifying our products and enlarging enterprise scale are our main priorities right now."
Guizhentang's planned listing was suspended on April 4.
Wu also said Guizhentang had stable earnings last year.
Guizhentang, the Fujian Province-based pharmaceutical company, had experienced a hard time on its path to a stock market listing. It has faced fierce public opposition for harvesting bile from live bears and using it in products, the report said.
The company previously tried to list in February 2012.
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