HK-listed China Medical jumps most in nearly 9 months on expansion deal

China Medical System Holdings

09/12/2021 03:25

** Shares of pharmaceutical products maker China Medical
System Holdings Ltd  0867.HK  jump 10.9% to HK$13.20, the
biggest daily percentage gain since March 18
    ** Stock among top 30 gainers on the Hong Kong bourse
    ** Guangdong, China-based company says its unit has acquired
a 100% stake in medical aesthetic specialty firm Shanghai Xuli
Medical Devices Co Ltd from third parties, as it aims to expand
into the medical aesthetic field  urn:newsml:reuters.com:*:nFWN2ST108
    ** Says Shanghai Xuli has established a sales network of
more than 800 medical aesthetic institutions in mainland China
    ** China Medical System, with current market value of
HK$32.68 bln ($4.19 bln), gives no price tag for the deal
    ** The Hang Seng consumer goods and services index  .HSCGSI 
jumps 1.8%, and the healthcare index  .HSCIH  surges 3%
    ** The Hang Seng Composite Index  .HSCI  rises 1.4% and the
Hang Seng Index  .HSI  climbs 1.2%
    ** The stock had surged 37.4% this year as of last close


($1 = 7.7978 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))