HK-listed Hutchmed jumps on health unit stake sales
02/01/2025 02:59
** Shares of pharmaceuticals manufacturer Hutchmed (China)
0013.HK jump as much as 11.8% to HK$25.2, their highest since
Dec. 13
** Hutchmed (China), controlled by tycoon Li Ka-shing, is
selling stakes in its health subsidiary for around $608 million
as the billionaire and his flagship conglomerate look to ramp up
capital and pivot towards core operations at the drugmaker
** Hutchmed anticipates to report a profit of $477 million
before income tax from the transaction
** Hutchmed's largest shareholder is Hong Kong-listed
conglomerate CK Hutchison 0001.HK in which the billionaire
investor has a 28.1% stake
** Shares of CK Hutchison ease 1.6%
** Hang Seng Commerce & Industry Index .HSNC slips 0.9%,
healthcare index .HSCIH falls 1.4% and Hang Seng Index .HSI
declines 1.5%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))