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AstraZeneca May Create New Company for China Ops and List in Hong Kong or Shanghai

publication date: Jun 20, 2023

AstraZeneca may separate its China operations into a standalone company that would conduct an IPO in Hong Kong or Shanghai, with the goal of protecting its China business from east-west political tensions. Although the China operations would be a separate entity, the parent company would retain control. The spinout plans, which are not definite, were revealed in a Financial Times article. Instead of the new company, AstraZeneca may choose to simply add a Shanghai listing of the entire company as an alternative. Recently, the California venture capital company Sequoia announced it would spin out its China business into a “completely independent” entity named HongShan. More details....

Stock Symbol: (NYSE: AZN)

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