Sino Biopharm stock dives after CEO sells HK$2.3bn block

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By Jonathan Breen
21 Apr 2020

Sino Biopharmaceutical’s shares tumbled about 8% on Tuesday after its chief executive officer, Tse Ping, sold a portion of his stake in the company for HK$2.27bn ($292.9m).

Bookrunners HSBC and UBS launched the trade after Hong Kong markets closed on Monday, opening the book at around 7pm, according to a source close to the deal.

The duo were marketing a block of 200m secondary shares, equal to 1.6% of Hong Kong-listed Sino Biopharm’s outstanding share ...

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