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3 December 2009
SEAVI Advent Private Equity completes investment in Sinocom Pharmaceutical Inc
On 3 Dec 2009, Seavi Advent Private Equity completed a US$7m Series A Preferred Stock investment into Sinocom Pharmaceutical Inc. Under the terms of the investment, the shares of Series A Preferred Stock shall initially be convertible into shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) constituting 8.47% of the outstanding shares of Common Stock of the Company, determined on a fully-diluted basis.
Sinocom Pharmaceutical Inc is the holding company for Anqing Zhongxi Yao Company Limited (“Anqing ZXY”). Anqing ZXY is a leading PRC pharmaceutical company and is in the business of cultivating and selling natural herbs, as well as distributing a wide variety of third party Traditional Chinese Medicine formulated products and western medicines. The company’s products, which include both over-the-counter and prescription products, are distributed directly to hospitals, medical clinics and drug stores, as well as indirectly through other distributors. Anqing ZXY commenced operations in 1997 and is based in Anqing City, Anhui Province, PRC.
SEAVI Advent will continue the current strategy of funding promising Chinese companies that are positioned to deliver growth in tandem with the expansion of the Chinese economy.
About SEAVI Advent
SEAVI Advent, the Asian affiliate of Boston based private equity institution Advent International, is one of the first private equity and venture capital firms to operate in the Asia Pacific region. Since 1984, the firm has invested over US$500 million into many Asian companies, from growth to late stage, as well as buyout and control transactions. SEAVI Advent has successfully helped more than 40 portfolio companies strengthen their business positions through initial public offerings on the stock exchanges of Singapore, Hong Kong, United States of America, Malaysia, Thailand, Indonesia and Philippines.
Over the years, SEAVI Advent has been instrumental in delivering value for its portfolio companies, which include Venture Corporation Ltd and Yangzijiang Shipbuilding (Holdings) Ltd.
Media contact :
HOE Boon Kwee
Tel : +65 6339 9090
Email : bkhoe@seavi.com.sg
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