Shandong Lukang Biotechnology Development Co., Ltd. announced that it will receive CNY 195,000,000 in an equity round of funding on October 30, 2020. The transaction will include participation from returning investor Shandong Lukang Pharmaceutical Co.,Ltd. (SHSE:600789) and new investors Orion Food Co., Ltd. and ORION Holdings Corp. (KOSE:A001800).

The company will receive CNY 120,000,000 in its first tranche. The first tranche will include participation from ORION Holdings Corp. (KOSE:A001800) for CNY 60,000,000 to hold 50%, Orion Food Co., Ltd. will invest CNY 18,000,000 to hold 15%, and Shandong Lukang Pharmaceutical Co.,Ltd. (SHSE:600789) will invest CNY 42,000,000 to retain 35%.

The transaction has been approved by 19th extraordinary meeting of the 9th directorate of Shandong Lukang Pharmaceutical Co.,Ltd. (SHSE:600789). Post closing of the transaction, the registered capital of the company will increase from CNY 5,000,000 to CNY 200,000,000.