After trading hours on November 9, 2026, Tigermed (300347.SZ; 03347.HK) announced that it intends to sell its controlling interest in subsidiary Frontage Holdings (01521.HK) and divest its overseas laboratory services business. The transaction comprises a privatization and a separation. Its wholly owned subsidiary Hongkong Tigermed, together with CRL and Dr. Li Song, established SanRex as the acquisition vehicle to privatize Frontage by way of a scheme of arrangement.
SanRex is a consortium in which Tigermed holds a 53.4% stake. The cancellation price is HK$2.37 per scheme share, representing a premium of approximately 59.1% over Frontage's closing price of HK$1.49 on the preceding trading day. Upon completion of the privatization, Frontage will become a wholly owned subsidiary of SanRex and its listing will be withdrawn from the Hong Kong Stock Exchange.
The privatization will be followed by a separation: consortium member CRL (Charles River Laboratories, NYSE: CRL) will hold Frontage's target business of bioanalysis and drug metabolism and pharmacokinetics (DMPK); the non-target business outside China will be sold to Frontage's chairman Dr. Li Song through equity distribution; and the non-target business within China will be retained by Tigermed. After the separation, Tigermed will no longer hold any shares in Frontage.
In terms of consideration, the initial consideration for the target business is US$470 million, the non-target business outside China is US$84.4 million, and the non-target business within China is US$205.5 million. Tigermed expects to receive cash consideration of approximately RMB461.2 million during the privatization stage, and the gain arising from the transaction is expected to be not less than approximately RMB500 million. The transaction remains subject to approvals by shareholders and relevant regulators.

Source: https://finance.sina.com.cn/roll/2026-11-09/doc-iniycwiu6464775.shtml