Changes in Hong Kong stocks | Kingsley Biotech (01548) rose more than 8% in early trading to be split off and listed in Hong Kong or to ease redemption pressure

The Zhitong Finance App learned that Kingsley Biotech (01548) rose more than 8% in early trading. As of press release, it rose 7.35% to HK$33.28, with a turnover of HK$561 million.

According to the news, Kingsley Biotech recently announced that it plans to split its Probio Technology Limited (Probio Biotech) into an independent listing on the main board of the Hong Kong Stock Exchange. According to the announcement, if the spin-off is successfully completed, Kingsley will continue to hold interests in Boer Biotech Holdings, and its operating and financial results will continue to be consolidated into the consolidated financial statements.

According to public information, in July 2022, Fengbo Biotech received an investment of 37.254 million US dollars from Zhenjiang Hi-Tech. The two parties signed a gambling agreement requiring the company to redeem all preferred shares if BoboBio does not complete its initial public offering (i.e. listing) in 2027. Analysts pointed out that if BoboBio can complete its listing by 2027, some preferred shares are expected to be converted to common shares, and the capital structure is adjusted simultaneously, and the redemption pressure is expected to be resolved.