Sino Biopharmaceutical climbs on plan to raise stake in core unit
14/09/2026 08:31
BUZZ-Sino Biopharmaceutical climbs on plan to raise stake in core unit ** Shares of Sino Biopharmaceutical 1177.HK climb 5% to HK$5.51, on track for biggest one-day pct gain since September 8
** Co, with current market valuation of $13.03 billion, says it plans to buy from its key shareholder a 5% equity interest in Chia Tai Tianqing Pharmaceutical Group for 4.48 billion yuan ($668.01 million), raising its stake in the unit to 65% from 60%
** The valuation represents a significant discount compared to industry peers and will enhance shareholders returns, while it is also a key milestone in the company's efforts to raise stake in core assets - Co
** YTD, stock up 11.2%, the Hang Seng Biotech Index .HSBIO up 9.2%
($1 = 6.7065 Chinese yuan renminbi)
(Reporting by Donny Kwok)
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