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LifeTech Scientific Corporation ( (HK:1302) ) has provided an update.
LifeTech Scientific Corporation has entered into an agreement to purchase 230,000,000 shares from a substantial shareholder as part of its Share Award Scheme. This transaction, which involves a connected person under the Listing Rules, is valued at HK$437,000,000 and represents approximately 4.97% of the company’s issued share capital. The purchase is made at a slight discount to recent average closing prices, and while it requires reporting and announcement, it is exempt from circular and independent shareholder approval requirements.
The most recent analyst rating on (HK:1302) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on LifeTech Scientific Corporation stock, see the HK:1302 Stock Forecast page.
More about LifeTech Scientific Corporation
LifeTech Scientific Corporation is a company incorporated in the Cayman Islands, operating in the medical device industry. It focuses on developing and manufacturing advanced medical devices, particularly in the cardiovascular and peripheral vascular fields.
Average Trading Volume: 25,955,060
Technical Sentiment Signal: Hold
Current Market Cap: HK$8.21B
For a thorough assessment of 1302 stock, go to TipRanks’ Stock Analysis page.