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Nomura: TIGERMED (03347.HK) Directors and Controlling Shareholders Placed Under Investigation, Expects Short-term Share Price Pressure
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Nomura published a report stating that on May 12 (yesterday) evening, TIGERMED (03347.HK) announced that director and controlling shareholder Ye Xiaoping and Cao Xiaochun have received a notice of investigation from the China Securities Regulatory Commission for alleged violations of laws and regulations in information disclosure related to changes in the companys equity interests. Nomura noted that specific details of the investigation are still pending. It believes the probe is likely related to the two individuals past share placements and whether such transactions were compliant. Notably, the companys Chinese announcement emphasized that the two controlling shareholders had made public announcements and disclosures in accordance with regulations for each share placement, while the English announcement did not mention this point. The broker said it is currently unable to quantify the potential legal consequences the two controlling shareholders may face, which could include fines. Regardless of the final outcome, the share price is expected to face downward pressure in the short term. Nomura maintained a Neutral rating on TIGERMED with a TP of HKD28.56. (ha/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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