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HUTCHMED Spikes 7%+ in Early Trading, Selling Stakes in SHPL for RMB4.5B Cash
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HUTCHMED (00013.HK) opened 3.1% higher today (2nd), peaking at $24.4. It last printed at $24.2, up 7.32%, on a volume of 5.3285 million shares, involving $127 million. HUTCHMED has entered into agreements with SH PHARMA (02607.HK) and GP Health to sell 10% and 35% stakes in Shanghai Hutchison Pharmaceuticals (SHPL) respectively, cashing in a total of RMB4.48 billion. HUTCHMED stated that upon completion of the transactions, the group's capital and debt structure will be further optimized, allowing the group to focus its resources on its core business areas. AAStocks Financial News |
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