Hong Kong drug firm’s shares rise after it brings in Chinese hemp producer to explore medical uses of cannabis
Meilleure Health International Industry Group issues 312 million new shares to Hemp Investment Group for about HK$109 million
South China Morning Post (China)
Thursday, February 22, 2018
Thursday, February 22, 2018
S
hares in Hong Kong pharmaceutical company Meilleure Health International Industry Group soared by as much as 35 per cent on Thursday after it issued 312 million new shares to top Chinese hemp producer Hemp Investment Group for about HK$109 million (US$13.92 million). The companies will explore medical uses for cannabis in China, the world’s largest hemp producing country. Hemp production is legal in some Chinese provinces, including Yunnan and Heilongjiang. China accounts for about half of the world’s legal hemp cultivation, and is the biggest exporter of hemp paper and textiles, according to official figures.
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