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 *ST Jilin Pharma Fails In 6th Restructuring Attempt
CreateTime:2011-09-16     Source:capitalvue Editor:lile
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September 15 -- Jilin Pharmaceutical (000545.SZ) said its sixth attempt at restructuring in the past four years failed again, and share trading will resume today, reports China Securities Journal, citing a company filing.

According to the company, its sixth restructuring plan was too complicated to be accomplished as scheduled. All the related parties committed not to undertake other restructuring efforts in the next three months.

Share trading had been suspended since July 20.

*ST Jilin Pharma used to be a major aspirin supplier in the domestic market. In 2010, it planned to restructure into a real estate company. The restructuring attempts failed due to the government’s regulations.

The company lost 15.84 million yuan in the first half this year, with negative assets of 54.58 million yuan. Its market capitalization totaled 1.78 billion yuan based on its closing price before share trading was suspended on July 20.


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