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HONG KONG - HUTCHMED (China) Limited has announced a delay in the dispatch of materials related to its extraordinary general meeting (EGM) concerning the previously disclosed $608 million sale of a 45% stake in Shanghai Hutchison Pharmaceuticals Limited. The EGM circular, which is to provide shareholders with detailed terms of the proposed disposal and other requisite information, is now expected to be sent by March 31, 2025.
The transaction, which was initially announced on January 2, 2025, involves the sale of a significant equity interest in Shanghai Hutchison Pharmaceuticals to GP Health Service Capital. The delay, according to the company’s statement, is due to the buyer’s need for additional time to complete the designation process to the GP Purchaser Fund and the Designated Purchaser.
The completion of the sale is contingent upon the fulfillment or waiver of conditions set forth in the agreements. HUTCHMED has cautioned shareholders and potential investors to exercise prudence when dealing in the company’s shares and securities, as the transaction is not yet guaranteed to proceed.
HUTCHMED, listed on Nasdaq/AIM (HCM) and HKEX (13), is a biopharmaceutical company engaged in the discovery, development, and commercialization of targeted therapies and immunotherapies for cancer and immunological diseases. The company has marketed three medicines in China, with one also approved in the US, Europe, and Japan.
The update on the transaction’s timeline was provided in accordance with the rules of the Stock Exchange of Hong Kong Limited, where HUTCHMED is listed. The company’s board, led by Chairman Dr. Dan Eldar, includes a mix of executive, non-executive, and independent non-executive directors.
This news article is based on a press release statement issued by HUTCHMED on February 28, 2025. As the situation develops, shareholders are advised to stay informed on further announcements from the company.
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