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Venus Medtech Signs Term Sheet for Up to 500 Million Yuan Investment; Shares Jump 6%

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Venus Medtech (Hangzhou) (HKG:2500) signed a non-binding term sheet with Hangzhou Hi-Tech Financial Investment Holdings Group and Hangzhou Yingzhiqin for a potential investment of up to 500 million yuan, according to a Thursday Hong Kong bourse filing.

The proposed investment will be made through subscriptions for new shares and convertible bonds, with the final mix to be determined under definitive transaction documents expected to be signed by Aug. 31.

Venus Medtech said the proposed investment would support product development and global commercial expansion.

Shares of the firm were up nearly 6% in Thursday's late-morning trade.

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