Changes in Hong Kong stocks | Fangda Holdings (01521) resumed trading and rose nearly 50%, Tiger Pharmaceuticals participated in the privatization of Fangda Holdings and divested overseas laboratory business

The Zhitong Finance App learned that Fangda Holdings (01521) resumed trading and rose by nearly 50%. As of press release, it had risen 39.6% to HK$2.08, with a turnover of HK$12.528,800.

According to the news, Tiger Pharmaceuticals announced that the company plans to sell control of its subsidiary Fangda Holdings and divest its overseas laboratory business. The deal includes two parts: privatization and spin-off. Hong Kong Tiger, a wholly-owned subsidiary of the company, and CRL, Dr. Li Song and others jointly established SanRex as the acquirer to privatize Fangda Holdings through planned arrangements.

The announcement stated that after the privatization is completed, Fangda Holdings will become a wholly-owned subsidiary of SanRex. After the spin-off transaction was completed, the company no longer held shares in Fangda Holdings and only retained non-target business in China. In the spin-off transaction, the initial transaction prices for the target business, non-target business outside of China, and non-target business within China were US$470 million, US$804.4 million, and US$205.5 million, respectively.