Innovent Biologics (HK:1801) has released an update.
Innovent Biologics announced a strategic move involving the sale of a minority stake in its subsidiary, Fortvita, to Lostrancos for $20.5 million. This transaction will reduce Innovent’s ownership from 100% to 79.61%, marking a significant financial maneuver aimed at unlocking capital and potentially enhancing shareholder value.
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