HK Stock Market Move | ZYLOXTB (02190) rises over 7%, partners with GL Capital for strategic investment in LIFETECH SCI.

ZYLOXTB (02190) rose over 7%, up 6.45% as of press time at HK$20.64, with a turnover of HK$1.4285 million. On the news front, on November 6, ZYLOXTB announced a joint strategic investment in LIFETECH SCI together with GL Capital. According to the relevant agreement, ZYLOXTB and GL Capital will jointly contribute capital to establish GL Lighthouse Two Investment Limited ("Lighthouse Two") to subscribe for newly issued shares of LIFETECH SCI at an aggregate amount of approximately HK$1.482 billion. Upon completion of the transaction, Lighthouse Two will hold approximately 16.7% of the total issued shares of LIFETECH SCI after the share issuance, becoming the single largest shareholder of LIFETECH SCI. ZYLOXTB intends to contribute approximately HK$889 million and hold 60% of the shares of Lighthouse Two. In addition, GL Capital intends to subscribe for 39.8 million newly issued shares of ZYLOXTB at HK$22 per share, representing 10.8% of the company's total shares after this issuance (excluding treasury shares), providing funding support for the company's further increase in its stake in LIFETECH SCI and overseas business development in the future. The subscription price represents a premium of 13.5% over the closing price on the date of the transaction announcement and a premium of 15.4% over the average closing price for the five trading days prior to the announcement, fully demonstrating GL Capital's recognition of ZYLOXTB's long-term development.