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The latest update is out from Simcere Pharmaceutical Group Limited ( (HK:2096) ).
Simcere Pharmaceutical Group Limited plans to spin off its oncology-focused subsidiary, Simcere Zaiming Pharmaceutical Co., Ltd., and seek a separate listing of Simcere Zaiming’s H shares on the Main Board of the Hong Kong Stock Exchange, with the exchange having confirmed that the spin-off may proceed. Simcere Zaiming has filed its listing application and intends to offer new shares in a global offering that will include a preferential tranche for qualifying Simcere shareholders, while Simcere expects to retain a controlling stake of over 50% post-transaction, meaning the unit will remain a subsidiary; the deal is classified as a discloseable transaction under Hong Kong listing rules, and its completion remains subject to regulatory approval, leaving investors with some uncertainty over timing and outcome.
The most recent analyst rating on (HK:2096) stock is a Buy with a HK$16.30 price target. To see the full list of analyst forecasts on Simcere Pharmaceutical Group Limited stock, see the HK:2096 Stock Forecast page.
More about Simcere Pharmaceutical Group Limited
Simcere Pharmaceutical Group Limited is a Hong Kong-incorporated biopharmaceutical company whose operations include innovative drug development, and it controls Simcere Zaiming Pharmaceutical Co., Ltd., a biopharmaceutical subsidiary focused on the research, development and commercialization of innovative oncology drugs, excluding cell therapy and gene diagnostic and therapeutic technologies.
Average Trading Volume: 8,320,800
Technical Sentiment Signal: Buy
Current Market Cap: HK$31.49B
For an in-depth examination of 2096 stock, go to TipRanks’ Overview page.