The Sponsor, Zilong Xie and his wife Xiulan Chen collectively own 33.96% of the shares, while 41.72% is held by public shareholders. Two prominent PE funds, Primavera Capital and FountainVest Partners, jointly acquired 24.32% in the Company from EQT Partners in November 2019.

 Total Project cost is estimated at US$ 300 million. The proposed IFC investment is an A loan of up to RMB 1 billion (approximately US$142 million equivalent).

LBX is headquartered in Changsha, Hunan in China. The Project involves capital expenditures associated with expansion of drugstores and logistics network across China, with a focus on the frontier provinces such as Hunan, Jiangxi, Shaanxi, Inner Mongolia, Hebei, Hubei, Anhui, Henan, Gansu, Guangxi and Ningxia.

 IFC’s corporate governance assessment showed that LBX has a strong commitment to corporate governance standards and quality control as a listed entity. The introduction of PE investor EQT in 2008 (whose equity stake was later sold to Primavera Capital and FountainVest Partners in 2019) has helped Company to establish corporate governance policies and framework based on international standards.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.