TJ DaRenTang USD (T14.SI) saw its shares soar 3.44% during intraday trading on Friday, reflecting significant investor interest in the pharmaceutical company.
The surge follows a regulatory filing revealing that JinYao Global, a subsidiary of the company's controlling shareholder Tianjin Pharmaceutical, acquired an additional 82,200 S-Shares at $2.96 apiece. This purchase increases the controlling shareholder's total stake in Tianjin Pharmaceutical Da Ren Tang to approximately 43.008%.
Market sentiment was further bolstered by JinYao Global's stated intention to potentially increase its shareholding further within the next six months, signaling strong confidence in the company's long-term prospects from its largest investor.