HK-listed Shandong Weigao hits near 3-week high ahead of unit's IPO launch

Shandong Weigao Medical Polymer

11/06/2021 08:02

** Shares of medical devices producer Shandong Weigao Group
Medical Polymer Co Ltd  1066.HK  rise as much as 4.2% to
HK$18.04, the highest since May 24
    ** Shandong-based company says the initial public offering
(IPO) of shares of its spin-off unit Weigao Ortho on the
Sci-Tech Board in Shanghai will be launched on June 21
 urn:newsml:reuters.com:*:nFWN2NS0NE
    ** Weigao Ortho will issue 41.4 mln shares, or 10.35% of the
enlarged share capital, in the IPO  
    ** Co's stake in Weigao Ortho will be reduced to 72.2% after
the listing, from 80.5% 
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.2%, and the benchmark index  .HSI  gains 0.4%


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