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Sisram Medical Ltd. ( (HK:1696) ) has issued an announcement.
Sisram Medical’s Hong Kong subsidiary has entered into a new supply framework agreement with Fosun Wanbang (Jiangsu), an indirect wholly owned unit of controlling shareholder Fosun Pharma, to continue supplying botulinum toxin type A for injection for the treatment of glabellar lines. As the deal is a continuing connected transaction with percentage ratios above key thresholds under Hong Kong listing rules, it requires independent shareholders’ approval, prompting the formation of an independent board committee, appointment of an independent financial adviser and the planned dispatch of a circular ahead of an extraordinary general meeting.
More about Sisram Medical Ltd.
Sisram Medical Ltd., incorporated in Israel and listed in Hong Kong, operates in the medical aesthetics and healthcare sector. Through its subsidiary Sisram HK, the company is involved in supplying aesthetic medical products, including botulinum toxin type A injections targeting cosmetic indications such as moderate to severe glabellar lines in adult patients in the Chinese market.
Average Trading Volume: 488,910
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.31B
For a thorough assessment of 1696 stock, go to TipRanks’ Stock Analysis page.