bullish
Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm
487 Views17 Jun 2023 17:40
SUMMARY
- Viva Biotech Holdings (1873 HK) is raising RMB1.06 billion (~$150 million) through offloading ~24% of its equity interest in Viva Shanghai, the primary entity of the company's CRO business.
- The consideration implies a revenue ratio and gross profit ratio of 4.90x and 11.04x, respectively. The ratios are at the similar level of the average ratios of other comparable peers.
- Going ahead, Viva Biotech is planning to spin off its CRO business for separate listing in the A-shares market. IPO application is expected to be filed by June 30, 2024.
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