Guangzhou Baiyunshan Pharmaceutical Holdings Company (HK:0874) has released an update.
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. has announced the application and acceptance for its subsidiary, GP Corp., to be quoted on the National Equities Exchange and Quotations (NEEQ), with no issuance of new shares involved. The Hong Kong Stock Exchange has permitted the spin-off and granted a waiver for the requirement of assured entitlement for the existing shareholders, a majority of whom may not qualify as investors under PRC law. The Board believes this strategic move is fair, reasonable, and in the shareholders’ best interests, despite the absence of assured entitlements.
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