According to the bank's website, Jointown Pharmaceutical Group Co., Ltd. (“Jointown” or the “company”) is a major pharmaceutical product distribution company founded in 1999 in China with its headquarter based in Wuhan province and is publicly listed on the Stock Exchange of Shanghai (600998 SHA), with 31 provincial level and 94 prefecture-level pharmaceutical product distribution and logistics centers throughout China.
IFC is looking at providing debt financing to Jointown of up to RMB$1 billion to support its expansion through the construction of up to 5 new product distribution centers and upgrading of 4 existing warehouses in China (the “project”).
The company procures pharmaceutical products and medical equipment, stores in its large network of logistical centers in China, to be subsequently sold to hospitals, clinics, and pharmacies throughout China. While product distribution constitutes the core predominant part of the company’s overall business, Jointown also owns and operates one manufacturing facility in the Beijing area (which produces diabetes and cardiovascular-related medications), and one in Zibo city, Shandong province (which produces medications for mental illnesses, diabetes, and cardiovascular conditions).
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