HK-listed Immunotech hits near 6-week high as China Resources Pharma buys stake

Immunotech Biopharm

21/07/2021 06:35

** Shares of Immunotech Biopharm Ltd  6978.HK , which makes
immune cell products for cancer treatment, rise as much as 8.9%
to HK$20.80, their highest since June 11
    ** China Resources Pharmaceutical Group Ltd  3320.HK  says
unit has agreed to buy 10% of Immunotech from Yue Cheng
International Capital, Hualida Development, Ren Xiaojuan and Bei
Ni Ltd for HK$799.66 mln ($102.9 mln)  urn:newsml:reuters.com:*:nFWN2OW0FC
    ** Says unit has agreed to buy 51.46 mln existing shares of
Beijing-based Immunotech at HK$15.54 each, further developing
its business in cellular immunotherapy 
    ** Shares of China Resources Pharmaceutical rise 1.8%
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slips 0.8%, and the healthcare index  .HSCIH  falls 1%
    ** The Hang Seng China Enterprises Index  .HSCE  slides
0.7%, and the benchmark index  .HSI  eases 0.5%
    ** By last close, Immunotech shares up 71.7% this year
    
($1 = 7.7724 Hong Kong dollars)

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