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The latest update is out from Genor Biopharma Holdings Limited ( (HK:6998) ).
Genor Biopharma announced that the Hong Kong Stock Exchange has conditionally approved the dis-application of specific biotech listing rules to the company, effective upon completion of its proposed merger, after confirming that the enlarged group will meet the market capitalization and revenue thresholds under the main board’s standard Rule 8.05(3). Once the merger closes, the company’s shares will no longer carry the “-B” marker that denotes pre-revenue biotech issuers, its stock short name will change accordingly while the stock code remains 6998, and existing share certificates will remain valid, underscoring Genor’s transition from a Chapter 18A biotech issuer to a fully qualifying main board company with enhanced scale and financial profile.
More about Genor Biopharma Holdings Limited
Genor Biopharma Holdings Limited is a biotechnology company listed on the Main Board of the Hong Kong Stock Exchange, historically classified as a pre-revenue biotech issuer under Chapter 18A. Through a planned merger in which the target company will become its wholly owned subsidiary, Genor is evolving into an enlarged biopharma group with substantial operating revenue and a longer trading and management track record, positioning it to meet the main board’s standard market capitalization and revenue listing requirements.
YTD Price Performance: 96.53%
Average Trading Volume: 860,208
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.79B
For a thorough assessment of 6998 stock, go to TipRanks’ Stock Analysis page.