BUZZ-XtalPi rises after co targets HK$250 million revenue to meet Hong Kong listing threshold

Reuters
02-17
BUZZ-XtalPi rises after co targets HK$250 million revenue to meet Hong Kong listing threshold

** Shares of XtalPi Holdings 2228.HK, a provider of drug and material science research and development solutions, jump as much as 9.7% to HK$7.25, their highest levels since November 8

** Stock on track for the biggest one-day pct gain since February 10, if gains hold

** XtalPi, which went public on June 13, expects its 2024 revenue to reach HK$250 million ($32.13 million), meeting the revenue threshold requirement for specialist technology companies under Hong Kong's listing rules

** According to the listing rules, specialist technology companies must prove that it meets the definition of such a company and generate at least HK$250 million from their specialist technology business segments in the most recent audited financial year, among other criteria

** Hang Seng Commerce & Industry Index .HSNC rises 2.1%, healthcare index .HSCIH climbs 2.4% and Hang Seng Index .HSI advances 1.3%

($1 = 7.7810 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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