14th May 2019 14:36
LONDON (Alliance News) - Cathay International Holdings Ltd on Tuesday said Lansen Pharmaceutical Holdings Ltd has disposed of USD10.4 million worth of shares in Zheijang Starry Pharmaceutical Co Ltd.
Lansen, whose shares are listed on the Hong Kong Stock Exchange, is a 51%-owned subsidiary of Cathay.
The healthcare sector investor said Lansen sold 2.4 million shares at a price of CNY29.50, or GBP3.32, per Zheijang Starry share, representing 10% discount to the closing price of Zheijang Starry shares on the Shanghai Stock Exchange on Monday.
Lansen is expected to recognise a net gain of USD5.2 million, of which USD2.6 million is attributable to Cathay.
Cathay shares were untraded in London on Tuesday, last closing at 9.00 pence each.
Related Shares:
CTI.L