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PW Medtech Group Ltd. ( (HK:1358) ) has provided an announcement.
PW Medtech’s non-wholly owned subsidiary Sichuan Ruijian Medical has approved a share repurchase programme on China’s NEEQ market, authorising buybacks of between RMB110 million and RMB220 million of its A shares at up to RMB8.40 per share over a three-month period. The repurchased shares, expected to total up to about 8.53% of Sichuan Ruijian Medical’s share capital, will be cancelled and funded from its internal resources, with no directors or controlling shareholders currently indicating plans to tender shares.
Assuming the full repurchase is executed and the shares are cancelled, PW Medtech’s indirect stake in Sichuan Ruijian Medical would rise from 48.49% to 53.01%, resulting in a deemed acquisition without cash outlay by the parent. The transaction would strengthen PW Medtech’s control over a key blood purification device business while Sichuan Ruijian Medical remains a non-wholly owned subsidiary, with its financial results continuing to be consolidated into the group’s accounts and no material gain or loss expected aside from incidental costs.
More about PW Medtech Group Ltd.
PW Medtech Group Limited is a Cayman Islands-incorporated investment holding company focused on medical technology in China. Through its subsidiaries, the group engages in the research, development, manufacturing and sales of advanced infusion sets, intravenous cannula products, insulin needles, blood purification medical devices, and animal-derived regenerative biomaterials and human tissue repair alternatives.
Average Trading Volume: 843,578
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.65B
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