23rd Jul 2015 08:13
LONDON (Alliance News) - Hutchison China MediTech Ltd said Thursday that Mitsui & Co Ltd has exchanged 5.2 million shares in the company's drug research and development subsidiary Hutchison MediPharma Holdings Ltd, a 12.24% stake, for 3.2 million shares in China MediTech.
China MediTech said that based on its closing mid-market price Wednesday the value of the Mitsui shareholding in China MediTech is GBP54 million, a 5.9% holding.
Following the deal China MediTech will have a direct shareholding in Hutchison MediPharma of 99.75%.
Shares in China MediTech are trading up 1.1% at 1,700.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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