Beijing Beilu Pharma Raises 67 Million RMB

August 26, 2008 -- Beijing Beilu Pharmaceutical Co., Ltd., a company that is focused on traditional Chinese medicines, raised 66.6 million RMB ($9.7 million) by issuing 12.5 million shares to seven investors. The largest block went to Infotech Pacific Ventures, which took down 7.5 million shares for 40 million RMB ($5.8 million). After the refinancing, Infotech was the fourth largest shareholder in Beilu, owning almost 15% of the total shares outstanding. The funding gives the company a post-money valuation of $39 million. More details...