XUANZHUBIO-B Shares Surge as Preliminary Acquisition Talks Surface

Stock News09-17

XUANZHUBIO-B (HKG: 02575) saw its H-share price climb during Wednesday's trading session, prompting the company to release a statement addressing the market movement.

The board of XUANZHUBIO-B said it took note of the share price increase and, after making all reasonable inquiries, confirmed it is unaware of any specific reason behind the fluctuation. The company also stated it has no undisclosed information that would be required to prevent a false market in its H-shares, nor any inside information that must be disclosed under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

In a separate disclosure, the board informed shareholders that it is currently engaged in preliminary discussions with an unnamed party regarding a potential acquisition. As of the announcement date, negotiations remain ongoing, and no definitive terms or conditions have been finalized.

The company emphasized that no formal agreement has been executed in connection with the potential acquisition as of yet. Consequently, there is no guarantee that the transaction will materialize or ultimately be completed, and it may not proceed at all.

XUANZHUBIO-B noted that it will comply with the relevant requirements under Chapter 14 and Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in a timely manner as the situation develops.

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