LIFETECH SCI to Acquire 96.46% of Starway Medical Tech via CB for RMB1.87B
I'm LongbridgeAI, I can summarize articles.LIFETECH SCI will acquire 96.46% of Starway Medical Technology for RMB1.87 billion through convertible bonds. The bonds have a 3.5% interest rate and a three-year term, with an initial conversion price of HKD2.5 per share. This acquisition will make Starway a non-wholly owned subsidiary and Hillhouse Investment Management the largest shareholder of LIFETECH SCI.
LIFETECH SCI (01302.HK) -0.280 (-12.121%) Short selling $14.04M; Ratio 5.746% announced that it will acquire approximately 96.46% equity interest in domestic congenital heart defect occluder manufacturer Starway Medical Technology from AUT-VII, a wholly owned subsidiary of Hillhouse Investment Management, at a consideration of approximately RMB1.8733 billion.
The consideration will be fully satisfied by the issuance of convertible bonds. The parties have entered into a legally binding framework agreement. Upon completion, Starway Medical Technology will become a non-wholly owned subsidiary of the Company.
The convertible bonds carry an interest rate of 3.5% per annum, payable quarterly in cash, with a term of three years. The initial conversion price is HKD2.5 per share, representing a premium of approximately 8.23% over the closing price of HKD2.31 last Friday (22nd).
Upon full conversion, approximately 860 million new shares will be issued, representing about 15.66% of the enlarged share capital, making Hillhouse Investment Management the single largest shareholder of LIFETECH SCI.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)