Modern Dental (03600) Surges Over 17% as Hillhouse Investment Increases Stake to 17.24%

Stock News01-26

Modern Dental (03600) soared more than 17%, and as of the time of writing, the stock was up 17.21% to HK$6.06, with a turnover of HK$20.4923 million.

Recent media reports indicate that Hillhouse Investment has acquired a minority stake in the Hong Kong-listed company Modern Dental through a block trade, increasing its shareholding from less than 1% to 17.24%.

According to a filing with the Hong Kong Stock Exchange on January 23, XX-I SHT Holdings Limited purchased 161 million ordinary shares of Modern Dental off-market on January 19 at an average price of HK$5.8 per share, representing a transaction value of approximately HK$935 million.

Following this acquisition, the latest shareholding of XX-I SHT Holdings Limited stands at 161 million shares, with its long position rising from 0.00% to 17.24%.

The transaction involved other related parties: Hillhouse Investment Management, Ltd., Hillhouse Investment Management V, L.P., and Hillhouse Fund V, L.P.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment