HONG KONG (Reuters) – CStone Pharmaceuticals, which focuses on immuno-oncology medicines, said on Wednesday a unit of Pfizer Inc (N:) has agreed to buy 9.9% of the Hong Kong-listed biopharmaceutical firm for HK$1.55 billion ($200.01 million).
Pfizer Corporation has agreed to buy 115.93 million new shares of China-based CStone at HK$13.37 apiece, representing 43.8% premium over the closing price of HK$9.30 on Tuesday.
CStone will use the $200 million in proceeds from the share sale to fund development activities and strategic collaboration, the Hong Kong-listed firm said in a filing to the Hong Kong bourse.
Disclaimer: Fusion Media
would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.