Welcome to our dedicated page for CO news (Ticker: CO), a resource for investors and traders seeking the latest updates and insights on CO stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CO's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CO's position in the market.
Blue Ocean Structure Investment Company announced that over 75% of Global Cord Blood Corporation shareholders have called for an Extraordinary General Meeting (EGM) on June 16, 2022, at DLA Piper LLP, New York. The EGM will focus on proposals including the removal of current directors, the election of new directors, and halting the planned acquisition of Cellenkos, Inc. Blue Ocean argues that the transaction is detrimental to shareholder value, citing no long-term value from Cellenkos, a significant purchase price discrepancy, and potential shareholder dilution exceeding 50%.
Blue Ocean Structure Investment Company Ltd. announced that the Eastern Caribbean Supreme Court granted an injunction preventing Golden Meditech from claiming rights to shares of Global Cord Blood Corporation (NYSE: CO). Blue Ocean, holding a 65% stake in Global Cord, opposes the company's planned acquisition of Cellenkos, citing concerns over significant shareholder dilution, unjustifiable pricing, and conflicts of interest. A further court hearing is set for June 16, 2022. Blue Ocean aims to protect shareholder interests by halting the acquisition and calling for a special resolution.
Blue Ocean Structure Investment Company has publicly denounced a recent Schedule 13D filing by Golden Meditech, calling it fraudulent and misleading. As a major shareholder, owning approximately 65% of Global Cord Blood Corporation (NYSE: CO), Blue Ocean is actively seeking to halt the proposed Cellenkos acquisition.
Blue Ocean claims the transaction lacks long-term value, unjustifies the purchase price, and would dilute shareholder equity by over 50%. The company has already secured an injunction against the deal and is pursuing further legal actions.
Global Cord Blood Corporation (NYSE: CO) has received a petition from Blue Ocean Structure Investment Company Limited, filed with the Grand Court of the Cayman Islands. The company is currently seeking legal advice regarding this petition and will provide further updates as necessary. GCBC is recognized as a leading provider of cord blood collection and storage services in China, offering comprehensive laboratory testing and hematopoietic stem cell processing.
Global Cord Blood Corporation (NYSE: CO) announced its acquisition of Cellenkos, Inc. for a total consideration of $664 million in cash and issuance of approximately 125 million new shares. Cellenkos specializes in allogeneic T-regulatory cell therapies, focusing on treating autoimmune diseases and inflammatory disorders. The deal grants Global Cord Blood global rights to Cellenkos' products, enhancing its portfolio in the multi-billion-dollar cell therapy market. This strategic acquisition aims to leverage CLNK's innovative R&D capabilities to serve unmet medical needs globally, particularly in the context of COVID-19 and chronic conditions.
Global Cord Blood Corporation (NYSE: CO) announced its financial results for Q3 and nine months of fiscal 2022, highlighting a 9.1% increase in revenues to RMB317.2 million ($49.8 million) YoY, driven by 18,985 new subscribers. Gross profit rose 9.8% YoY to RMB269.9 million ($42.4 million), with an improved gross margin of 85.1%. Operating income surged 20.8% YoY to RMB149.7 million ($23.5 million). However, net income attributed to shareholders saw a modest 4.2% increase due to a mark-to-market loss on equity securities. The company plans to continue monitoring regulatory changes in China's cord blood banking industry.
Global Cord Blood Corporation (NYSE: CO), a leader in cord blood banking in China, will release its financial results for Q3 and the first nine months of fiscal 2022 on February 28, 2022, post U.S. market close. A conference call to discuss the results is scheduled for March 1, 2022, at 8:00 a.m. ET, accessible via the Company’s IR website. Supplemental financial information will be available after the results announcement. The company specializes in cord blood collection, testing, processing, and storage services.
Global Cord Blood Corporation (NYSE: CO) announced the rejection of the Alternate Ocean Proposal, which suggested acquiring the company's shares at US$5.00 each. The Board of Directors, based on a special committee's recommendation, believes the offer does not accurately reflect the company's value and fails to maximize shareholder returns. GCBC is a leading provider of cord blood banking services in China, recognized for its extensive geographical coverage and multiple operational licenses.
Global Cord Blood Corporation (NYSE: CO), a leading provider in cord blood banking services in China, held its 2021 Annual General Meeting on December 7, 2021. Shareholders re-appointed KPMG Huazhen LLP as independent auditors for the financial year ending March 31, 2022, and re-elected Jennifer J. Weng, Ping Xu, and Jacky Cheng as Class C directors until the 2024 annual general meeting. This meeting reinforces the company’s commitment to governance and operational continuity.
Global Cord Blood Corporation (NYSE: CO) reported a 9.8% year-over-year revenue increase to RMB313.7 million ($48.7 million) for Q2 FY2022, driven by 19,066 new subscribers. Gross profit rose by 11.0% YoY to RMB267.5 million ($41.5 million), with a gross margin of 85.3%. Operating income climbed 15.3% YoY to RMB160.5 million ($24.9 million). However, net income attributable to shareholders fell 4.3% YoY to RMB125.7 million ($19.5 million) due to a mark-to-market loss in equities. The first half of FY2022 saw a total revenue increase of 11.0% YoY to RMB628.8 million ($97.6 million).
FAQ
What is the market cap of CO (CO)?
