Molecular Data Inc. Announces Share Distribution
Molecular Data Inc. - ADS (MKD)
Company Research
Source: GlobeNewswire
SHANGHAI, China, June 30, 2020 (GLOBE NEWSWIRE) -- Molecular Data Inc. (“Molecular Data” or the “Company”) (NASDAQ: MKD), a leading technology-driven platform in China’s chemical industry, today announced that it has completed the distribution of the Company’s ordinary shares held by MOLBASE Inc. (“MOLBASE”) to the existing shareholders of MOLBASE in proportion to MOLBASE’s current shareholding structure (the “Share Distribution”), effective June 30, 2020. This Share Distribution plan has been disclosed in the Company’s registration statement on Form F-1 declared effective on December 27, 2019 (the “Registration Statement”). Prior to the Share Distribution, MOLBASE beneficially owned all of the Company’s issued and outstanding Class B ordinary shares, which constituted approximately 89.9% of the Company’s total issued and outstanding ordinary shares and 98.9% of the aggregate voting power of total issued and outstanding ordinary shares, and was deemed as the parent company of Mol
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