Genetron rises on buyout offer from CEO

Genetron Holdings

22/08/2022 12:59

** U.S.-listed shares of Chinese medtech firm Genetron
Holdings Ltd  GTH.O  up 3.4% at $1.22 premarket
    ** GTH discloses that Sizhen Wang, co-founder, chairman and
CEO, offers to buy co for $0.27 per share in cash  urn:newsml:reuters.com:*:nGNX7plQ5v
    ** According to letter, Wang intends to fund proposed
transaction with a combination of debt and equity capital
    ** Equity financing to be generated in the form of rollover
equity in the company and cash contributions from buyer and
sponsors
    ** Co says board has formed a special committee of two
independent directors to evaluate the proposal, and consider
other strategic alternatives
    ** Up to last close, stock fell 80.7% YTD

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))