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The latest update is out from Beijing Biostar Pharmaceuticals Co., Ltd. Class H ( (HK:2563) ).
Beijing Biostar Pharmaceuticals Co., Ltd. announced that its subsidiary, US-Biostar, invested $5 million in the LFM Stable Income Fund, a segregated portfolio of LFM Oversea Investment Fund SPC. However, the investment could not be redeemed due to the funds being tied up with Global Peace International Limited. As a result, Biostar has initiated legal proceedings to appoint receivers over the fund to recover its investment. The court’s decision on the liquidation of the fund is pending, which will determine the next steps for Biostar in reclaiming its funds.
More about Beijing Biostar Pharmaceuticals Co., Ltd. Class H
Beijing Biostar Pharmaceuticals Co., Ltd. is a pharmaceutical company based in China, focusing on the development and production of biopharmaceutical products. The company operates in the healthcare industry and is involved in the research and manufacturing of various medical and therapeutic products.
Average Trading Volume: 244,372
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$667.5M
See more data about 2563 stock on TipRanks’ Stock Analysis page.