HK-listed Jacobson Pharma jumps as plan to spinoff healthcare unit approved

Jacobson Pharma

24/09/2020 05:52

** Shares of generic drugs maker Jacobson Pharma Corp Ltd
 2633.HK  rise as much as 9.6% to HK$1.25, their highest since
Sept 8 
    ** Stock, last up 6.1%, heads for best session since Oct 11,
2019; Poised for second straight session of gains
    ** Hong Kong bourse approves the drug maker's proposal to
spin off and separately list its healthcare business, JBM
(Healthcare) Ltd, on the main board of the stock exchange
 urn:newsml:reuters.com:*:nFWN2GK0M9
    ** Co says JBM, which makes and sells consumer healthcare
products and proprietary Chinese medicines, has also submitted a
listing application 
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  fall 1.8%
    ** By last close, the stock had fallen 33.7% this year 

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)