Hutchison Meditech to list medical unit on Alternative Investment Market

By Elaine Rigoli

Tampa, Fla., April 10 - Hutchison Whampoa Ltd. announced Monday its plans to list its Chinese medicine unit, Hutchison China Meditech Ltd., on the Alternative Investment Market of the London Stock Exchange.

As Chi-Med is not a major subsidiary, no approval is required from the shareholders for the proposed separate listing, according to a news release.

The company intends to raise about £40 million in a separate placement of shares, the release said.

Hutchison Meditech, located in Hong Kong, develops pharmaceutical and health supplements derived from traditional Chinese medicine and botanical ingredients.

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