Jointown Pharma (IFC-41947)

Countries
  • China
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
JOINTOWN PHARMACEUTICAL GROUP CO., LTD.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 26, 2019

Disclosed by Bank Mar 21, 2019


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Project Description

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”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors

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).

Contact Information

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