Altamira Therapeutics shares are trading higher after the company entered into a binding agreement for the sale of a 51% stake in its subsidiary Altamira Medica AG.
Portfolio Pulse from Benzinga Newsdesk
Altamira Therapeutics' stock is trading higher following the announcement of a binding agreement to sell a 51% stake in its subsidiary Altamira Medica AG.
November 17, 2023 | 2:51 pm
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Altamira Therapeutics has entered into an agreement to sell a 51% stake in Altamira Medica AG, causing its shares to trade higher.
The sale of a majority stake in a subsidiary often leads to an increase in the parent company's stock price due to potential inflow of capital and strategic realignment. Investors may perceive this as a positive development for Altamira Therapeutics, reflecting in the stock's performance.
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IMPORTANCE 85
RELEVANCE 100