HK-listed Ocumension Therapeutics hits near 5-month high on share sale plan

Reuters2021-06-10

** Shares of Ocumension Therapeutics rise as much as 9.6% to HK$32.05, their highest since Jan. 18, and on course for second session of gains

** Stock on track for the best day since May 31

** China-based ophthalmic therapies developer says major shareholders plan sale of 1.36% of the company stake to third-party investors for HK$236.5 mln ($30.5 mln)

** The major shareholders, including 6 Dimensions Capital, 6 Dimensions Affiliates Fund, Suzhou Frontline BioVentures Venture Capital Fund II, and Suzhou 6Dimensions Venture Capital Partnership, plan sale of 8.6 mln existing shares at HK$27.50 each, or 6% discount to Wednesday's close

** Co says it does not expect the placing to have any adverse effect on its operations

** Morgan Stanley & Co International PLC is the placing agent

** Hong Kong's healthcare index climbs 0.6%

** Both the Hang Seng China enterprises index and the benchmark index gain 0.3%

** As of last close, the stock had risen 8.3% this year

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