(Alliance News) - Hutchison China Meditech Ltd on Wednesday said Prudential PLC held a 5.1% stake in the China-focused drug company.
Following a deal on Friday last week, Prudential held 34.0 million shares in Hutchison China, equivalent to a 5.1% stake. Any prior holding was not disclosed.
That same day, Hutchison China confirmed that the pricing of a secondary offer of its Nasdaq-listed shares had been fixed at USD24.00 per share.
Majority shareholder Hutchison Healthcare Holdings Ltd had agreed to sell 12.0 million American depository shares at a discounted USD24.00 each to Morgan Stanley & Co LLC, which was to act as underwriter.
Shares in Hutchison China were up 1.7% at 350.00 pence on Wednesday afternoon.
Hutchmed (HCM)