Viva Biotech Holdings' (HKG:1873) subsidiary Viva Biotech (Shanghai) completed its registration procedures for conversion into a joint-stock company with limited liability with the State Administration for Market Regulation on Thursday, a Friday filing with the Hong Kong Exchange said.
Viva Shanghai will have an issued share capital of a little over 446.0 million yuan immediately after the completion of the conversion, of which the company is indirectly interested in 325.2 million, 72.9% of its issued share capital.
The company also appointed its co-chief financial officer Wang Zheren as the CFO of Viva Shanghai while the other co-CFO, Xiong Wei will assume responsibilities of the CFO of the group.
The drugs research and development company's shares closed 10% higher on Friday.
Price (HKD): $0.77, Change: $+0.070, Percent Change: +10.00%
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