Growth Capitalist (https://growthcapitalist.com/tag/china/page/13/)
China Green Creative (CNGV) announced that it has raised $1.5 million in a Common Stock transaction. The company makes and distributes products including herbal teas and health infusions. The common stock was sold at $0.01 per share.The Placement Agent was not disclosed, and the investors include Han Sing Investment.. Issuer counsel was Hunter Taubman Weiss. The transaction closed on Sept.
China Cord Blood Corp. (CO) announced that it has raised $50 million in a Convertible Senior
Unsecured Notes transaction with investor Golden Meditech Holdings Ltd. The fixed conversion price of the Convertible Senior Unsecured Notes is $2.838 per share, an approximate 6.29% premium to the market price ($2.67) of CO at Sept. 18 deal announcement. Cowen and Company acted as the Financial Advisor. Issuer counsel was Loeb & Loeb, and investor counsel was Kramer Levin Naftalis & Frankel.
An ongoing dispute between China Hydroelectric Corp. (CHC) and a group of its investors escalated recently when the company sued an “insurgent” investor group. While the conflict developed in a public venue through a series of trenchant regulatory filings, the company’s suit accuses investors including NewQuest Capital and subsidiary CPI of “acting in secret” to take over China Hydroelectric. The suit was filed Sept. 10 in Manhattan’s U.S. District Court.
China Medical Technologies (CMEDY) was already on financially shaky ground before three hedge funds accused the company’s CEO Xiaodong Wu of further destabilizing the company by illegally transferring much of its assets to relatives. China Medical had already defaulted on two series of convertible notes, and Nasdaq had delisted its shares. Investors Whitebox Advisors, GLG Partners and Visium Asset Management made the claims in a suit they filed against Wu’s son-in-law Henry Mann and daughter-in-law Bi Junyun in the New York Supreme Court on Aug. 22. Wu himself was not named in the suit.
