GL Capital and SciClone Pharmaceuticals Inc (HKG: 6600) have jointly announced an agreement to privatize the Chinese firm and delist it from the Hong Kong Stock Exchange. SciClone, an integrated biopharmaceutical company, is engaged in both product development and commercialization with a focus on oncology and severe infections. The company’s revenue is predominantly derived from its core product, Zadaxin (thymalfasin), a hepatitis B virus (HBV) therapy that generated RMB 2.631 billion in sales in 2023, accounting for 83.4% of total revenues.
SciClone initially debuted in Hong Kong with an issuing price of HKD 18.8 on March 3, 2021. The privatization announced on March 28, 2024, will adopt the exact same price. The company is expected to be officially delisted from the Hong Kong Stock Exchange no later than July 4, 2024.- Flcube.com
