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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
London Asia | LSE:LDC | London | Ordinary Share | GB0008251513 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0750X London Asia Capital PLC 18 January 2006 For immediate release: 18 January 2006 LONDON ASIA CAPITAL PLC ("London Asia") Investment in Chinese Life Science Business seeking Ofex listing London Asia (LDC.L), the Greater China focused investment and merchant banking group, is pleased to announce that it has completed an investment of #647,000 for a 51% holding in Chinese life science business China Biotech Healthcare Ltd ("China Biotech" or "the Company"). China Biotech achieved pro forma profits for the year ended 30 June 2005 of #299,000, a 69% increase on the previous year. The investment is via the issue of 3,282,234 London Asia ordinary 5p shares at 18p a share, and the payment of US$100,000 in cash. London Asia agreed its investment in the company in July 2005, with the draw down of investment funds subject to meeting various hurdles set at the time of investment by London Asia, which have now been achieved by the Company. Application will be made for the 3,282,234 London Asia ordinary shares issued to be admitted to trading on AiM, with admission expected on 24 January 2006. London Asia Corporate Finance Ltd has been appointed Corporate Adviser to the Company, with a view to taking it to listing on Ofex in the coming months. London Asia directors Simon Littlewood and Victor Ng have been appointed to the Company's Board. China Biotech is a Jersey incorporated holding company for a profitable Chinese life science business, Century Huanding (Tianjin) Biomedicine Technology Co. Ltd ("Huanding"). Huanding is a technology commercialisation company, which develops and distributes healthcare products in partnership with leading Chinese universities and research institutes. The partnership agreements typically allow the Company to exploit research results, by either marketing sales of a final product or selling the intellectual property rights, in exchange for financing and advising on the commercialisation process, including clinical trials and legal requirements. The Company's core product is a unique, herbal derived bio-chromium supplement for long-term diabetes treatment. China is ranked second in the world in the incidence of diabetes and has an estimated 35 to 50 million people suffering from the disease. The Company is also in the process of developing additional products which are at various stages of development. Mr Deng Haoyun, Chief Executive of China Biotech, said: "Our company is poised to see considerable expansion, as we launch new products which have been under development for the last few years, and expand the sales network of our existing product in China. London Asia's investment will help fund that expansion. We are delighted that London Asia has agreed to work with us to achieve a listing on Ofex, which we hope will enable us to raise the necessary funds to further expand our operations to meet growing demand within China, and finance expansion into the European market." Simon Littlewood, Chief Executive, London Asia Capital said: "China Biotech has a strong management team, existing high quality products and a pipeline of new products under development, which should enable it to expand rapidly in the fast developing drugs market in China, and we look forward to working with the Company to assist it in realising the opportunities in the industry." For further information please visit www.londonasia.com or contact: John West/Matt Ridsdale Simon Littlewood Tavistock Communications London Asia Capital plc Tel: 020 7920 3150 Tel 020 7248 7578 Notes to Editors: About China Biotech Healthcare Limited Ltd and diabetes in China The Company's core product is a unique, herbal derived bio-chromium supplement for long-term diabetes treatment, Yino TZK GTF Oral Solution, approved by the Chinese Ministry Of Health ("MOH") and is already achieving good sales in China. The role of chromium as an essential element in human nutrition, and as the active constituent of the glucose tolerance factor (GTF), is well recognised. GTF chromium has been found to make insulin work better in lowering blood sugar levels, and helping to control cholesterol levels. The chromium abstracting technology is patented and is believed to be the first GTF health food approved by the MOH. China, ranked second in the world in the incidence of diabetes, has an estimated 35 million to 50 million people suffering from diabetes. It is estimated that this could reach as high as 100 million by 2025 if no effective measures are taken to curb the epidemic. Diabetes is now the third highest cause of death in the country (after cardiovascular disease and cancer) and it is estimated that over US$ 1 billion is spent annually on the treatment. This information is provided by RNS The company news service from the London Stock Exchange END HOLSFUFAWSMSEEF_SN_RNS0750X_SU_RNSTEST_XX_070056.8363_RZ__RT_R.xRoute.001 ~
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