UBS: Maintains Tigermed (03347.HK) "Buy" rating and HK$52.6 target price; participation in Frontage Holdings (01521.HK) privatization may help focus on core business

Zhitong Finance APP has learned that UBS has issued a research report stating it maintains a "Buy" rating and a target price of HK$52.6 for Tigermed (03347.HK). Tigermed announced that it will participate, through its wholly-owned subsidiary Hong Kong Tigermed, in the privatization and business spin-off of Frontage Holdings (01521). UBS believes that if the transaction is completed as planned, Tigermed may acquire the non-target business in mainland China and approximately RMB 1.81 billion in cash, and have the right to receive additional consideration payments from Charles River Laboratories. The transaction may help Tigermed divest non-core businesses and focus on clinical CRO services.