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Listing on schedule
By Ding Yining |
May 19, 2011, Thursday
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Print Edition
Print Edition
SHANGHAI Pharmaceuticals Holding Co yesterday said its listing on the Hong Kong stock exchange tomorrow will go on as scheduled although Anhui Huayuan Pharmaceutical filed a complaint about alleged malpractices of Shanghai Pharma's subsidiaries.
Huayuan Pharma, a distributor of Shanghai Asia Pioneer Pharmaceutical and Shanghai Huakang Pharmaceutical, alleged that their products have serious quality problems.
The two units are set to be injected into listed Shanghai Pharma once they have fulfilled requirements.
"Transactions of these two units have not been completed yet, and they do not belong to the assets of the listed company," said Xu Guoxiong, president of Shanghai Pharmaceutical Group, the parent of Shanghai Pharma.
Huayuan Pharma, a distributor of Shanghai Asia Pioneer Pharmaceutical and Shanghai Huakang Pharmaceutical, alleged that their products have serious quality problems.
The two units are set to be injected into listed Shanghai Pharma once they have fulfilled requirements.
"Transactions of these two units have not been completed yet, and they do not belong to the assets of the listed company," said Xu Guoxiong, president of Shanghai Pharmaceutical Group, the parent of Shanghai Pharma.
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