By Fineline Cube 
Chinese pharmaceutical firm Tonghua Dongbao Pharmaceuticals Co., Ltd (SHA: 600867) has announced plans to divest 23,187,600 shares in domestic peer Amoytop Biotech Co., Ltd (SHA: 688278) at a price of RMB 56.12 (USD 7.8) per share. The transaction, valued at approximately RMB 1.3 billion (USD 181 million), represents a 5.70% equity stake in Amoytop Biotech.
Transaction Details
This strategic divestment aligns with Tonghua Dongbao’s focus on deepening its commitment to innovation and accelerating its ongoing corporate transformation and development initiatives. The sale of shares is expected to streamline Tonghua Dongbao’s portfolio, allowing the company to concentrate on core business areas and emerging opportunities in the pharmaceutical sector.-Fineline Info & Tech