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FINWIRES

Shanghai MicroPort MedBot to Pay Nearly 21 Million Yuan to End Finance Lease; Shares Slip 5%

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Shanghai MicroPort MedBot (HKG:2252) agreed to terminate a finance lease with a MicroPort affiliate for a settlement payment of 20.9 million yuan, according to a Thursday Hong Kong bourse filing.

Its 98%-owned subsidiary, Navibot Suzhou, will make the payment, after which ownership of 27 surgical robot prototypes will transfer to the subsidiary.

The company said the termination will reduce future interest expenses and financing costs, while optimizing its debt structure and fund utilization.

Shares of the firm were down more than 5% in Friday's trading.

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