November 18 -- Renhe (Group) Development, the parent of Renhe Pharmacy (000650.SZ), a producer of drugs under the Renhe brand, has agreed to lower the price of a 55 percent stake in Jiangxi Renhe Pharmaceutical Plastic Products that it had planned to sell to the listed company, from the agreed sum of 51.89 million yuan to 32.448 million yuan, reports stcn.com, citing a company filing.

The move to lower the transaction price was made in order to support the development of Renhe Pharmacy.

Separately, Renhe Pharmacy scaled down its private placement to a maximum 601.21 million yuan. After the adjustment, the net amount to be raised will be up to 583.528 million yuan.