Shineco: Hits near 3-yr high on proposal to buy equity interest in Mayah Biological

Shineco

04/05/2021 15:38

** Shares in herbal medicines and hemp products maker
 TYHT.O  hit highest level since June 2018, last up ~38% at
$16.47
    ** Shineco proposes to buy at least 51% equity interest in
Taiwan-based biotech Mayah Biological
    ** Co says there is no guarantee, however, that the parties
to the proposal will enter into a definitive agreement
 urn:newsml:reuters.com:*:nGNX6HvVVP
    ** Mayah Biological focuses on the development of chemical
and biomedicine in the pre-clinical and clinical stages
     ** TYHT shares have jumped more than three-fold YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))