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TRAD CHI MED (00570.HK) Plummets 40% as Sinopharm's Privatization Proposal Lapses
Recommend 17 Positive 26 Negative 25 |
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TRAD CHI MED (00570.HK) announced that the preconditions for Sinopharm Common Wealth's proposal to privatize the company at $4.6 per share have not been met. As a result, the proposal lapsed on October 18, and the company's listing status on the Hong Kong Stock Exchange will not be withdrawn. Opening 14.92% lower at $3.25 this morning (21st), TRAD CHI MED bottomed at $2.12 with a slump in the early session. It last printed at $2.25, plummeting 41.1%, on a volume of 182 million shares and a turnover of $418 million. Its market value dropped to around $11.5 billion. AAStocks Financial News |
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