Stock Alert: BOQI Int'l Up 15%; To Expand Pharmacy Chain In Southwest China

(RTTNews) - Shares of BOQI International Medical Inc. (BIMI) gaining nearly 15% on Wednesday morning after the company said it will expand its pharmacy chain business in Southwest China.

BIMI is currently trading at $2.92, up $0.39 or 15.42% on the Nasdaq.

BOQI International said its subsidiary, Chongqing Shude Pharmaceutical has formed a new subsidiary to expand pharmacy chain business in Southwest China.

The new subsidiary plans to expand its scale to as many as 200 retail locations in Southwest China by the end of 2020.

"We believe that the new pharmacy chain can leverage the experience and growth strategy of Boqi Zhengji Pharmacy Chain to attract more talents and partners," said CEO Tiewei Song.