Extrawell Pharma Lifts Stake in Key Subsidiary via Connected Share Buy-Back

An announcement from Extrawell Pharmaceutical Holdings Limited ( (HK:0858) ) is now available.

Extrawell Pharmaceutical’s indirect subsidiary Changchun Extrawell has agreed to buy back a 10.06% equity stake from an existing substantial shareholder for RMB4.4 million, with the repurchased shares to be cancelled, raising the group’s interest in Changchun Extrawell from 80.46% to 89.46%. The transaction, classified as a discloseable and connected transaction at the subsidiary level under Hong Kong Listing Rules, has been approved by the board and endorsed as fair and reasonable by independent non-executive directors, is exempt from circular and independent shareholders’ approval requirements, and follows an earlier 2023 buy-back that previously lifted the group’s stake, underscoring Extrawell’s ongoing strategy to consolidate control of this key subsidiary while cautioning investors that completion remains subject to conditions precedent.

The most recent analyst rating on (HK:0858) stock is a Hold with a HK$0.09 price target. To see the full list of analyst forecasts on Extrawell Pharmaceutical Holdings Limited stock, see the HK:0858 Stock Forecast page.

More about Extrawell Pharmaceutical Holdings Limited

Extrawell Pharmaceutical Holdings Limited, incorporated in Bermuda and listed in Hong Kong, operates through subsidiaries including Changchun Extrawell, in which it currently holds an 80.46% equity interest. The group focuses on pharmaceutical-related businesses and has been consolidating its stake in Changchun Extrawell through a series of share buy-backs, increasing its control over this non-wholly owned subsidiary within the regulatory framework of the Hong Kong Listing Rules.

Average Trading Volume: 2,443,050

Technical Sentiment Signal: Hold

Current Market Cap: HK$234.6M

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