Heng Ren ‘demands’ Sinovac Biotech distribute $8.9B in cash to shareholders

Sinovac Biotech (SVA) shareholder Heng Ren Partners, LLC funds sent an open letter to Sinovac’s shareholders outlining the significant and decisive action that Sinovac’s Board of Directors must take to create liquidity and release cash to shareholders. Specifically, Heng Ren demands that Sinovac’s Board of Directors announce a distribution of $8.9B in cash to its shareholders and cause the resumption of trading of the company’s shares. “After announcing a plan to distribute cash to shareholders, the Company must take all action necessary to cause the resumption of trading of Sinovac’s shares on NASDAQ. The Board must immediately take and disclose all steps that it is taking to make this happen. The Board must inform shareholders of a clear timeline as to when the trading of Sinovac’s shares will resume on NASDAQ. The Board must prevent any trading, by Company management or otherwise, of Sinovac’s shares until full disclosure is made of the Company’s financial condition and other material information. Shareholders are entitled to all information necessary to determine which additional actions, if any, are warranted.”

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