HK Stock Market Move | JACOBIO-B (01167) rose by more than 11%, recently received a down payment of 125 million yuan from Haipin Capital for the sale of non-core projects.

JACOBIO-B (01167) rose by more than 11%, closing at a 10.28% increase at HK$8.69 at the time of publication, with a trading volume of HK$73.8233 million. On the news front, JACOBIO recently announced that it has received a down payment of 125 million yuan from Haitong Capital for the capital increase agreement and equity transfer agreement it entered into. The receipt of this down payment further enhances the cash reserves of the group and provides support for the advancement of the group's innovative oncology therapy pipeline. It is reported that JACOBIO announced in October that it has signed agreements with Haitong Capital and an industry partner for a capital increase and equity transfer. According to the agreement, Haitong Capital will purchase 80% of the equity of JACOBIO's subsidiary JACORICAN for RMB 125 million as a down payment and RMB 75 million as a milestone payment. After completion, the shareholding of Beijing JACOBIO in JACORICAN will be reduced to 10%. The announcement stated that this transaction is in line with the strategic development of the group's oncology pipeline products focusing on different key cellular pathways in the treatment of cancer.