Xinrui Pharmaceutical (06108) announced that on May 16, 2024 (after trading hours), the buyer, Major Bright Holdings Limited (an indirect wholly-owned subsidiary of the company), and the seller, Yu Wenyong (an independent third party) entered into a sale and purchase agreement, pursuant to which the seller conditionally agreed to sell and the buyer conditionally agreed to purchase the sale shares at a consideration of HK$17.28 million. The shares for sale account for the issued share capital of the target company, China Nuwa Pharmaceutical Group Co., Ltd.megawinningnumber16%. The target group is mainly engaged in the manufacturing, sales and distribution of pharmaceutical products in China.
The announcement stated that the acquisition is a good opportunity to expand and expand the group's presence in the pharmaceutical products industrymegawinningnumberbusiness operations.