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TRAD CHI MED (00570.HK) Plummets 40% as Sinopharm's Privatization Proposal Lapses
TRAD CHI MED (00570.HK) announced that the preconditions for Sinopharm Common Wealth's proposal to privatize the company at $4.6 per share have not been met. As a result, the p...
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TRAD CHI MED (00570.HK) Plummets 40% as Sinopharm's Privatization Proposal Lapses
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TRAD CHI MED (00570.HK)  +0.100 (+4.032%)    Short selling $99.77M; Ratio 3.447%   announced that the preconditions for Sinopharm Common Wealth's proposal to privatize the company at $4.6 per share have not been met. As a result, the proposal lapsed on October 18, and the company's listing status on the Hong Kong Stock Exchange will not be withdrawn.

Opening 14.92% lower at $3.25 this morning (21st), TRAD CHI MED bottomed at $2.12 with a slump in the early session. It last printed at $2.25, plummeting 41.1%, on a volume of 182 million shares and a turnover of $418 million. Its market value dropped to around $11.5 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-21 16:25.)

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