ABVC BioPharma to break ground in China, advances 20% stake in Zhonghui real estate 

Cal­i­for­nia-head­quar­tered AB­VC Bio­Phar­ma is to ex­pand its ge­o­graph­ic reach through an ac­qui­si­tion agree­ment with Zhonghui Unit­ed, with the biotech mov­ing ahead with a 20% own­er­ship stake in Zhonghui’s re­al es­tate in Cheng­du, Chi­na.

The deal is worth ap­prox­i­mate­ly $7.4 mil­lion, which is in the ball­park of 370,000 shares of AB­VC stock at $20 per share, as per AB­VC’s Thurs­day press re­lease.

Ac­cord­ing to an SEC fil­ing, the land and prop­er­ty is in Le­shan, Sichuan, Chi­na. The even­tu­al fa­cil­i­ty is en­vi­sioned as AB­VC’s “base for the Chi­na mar­ket and glob­al de­vel­op­ment.”

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