Babytree Group Clears Post-IPO Allegations

Babytree Group (HK:1761) has released an update.

Babytree Group has completed an independent investigation and internal control review, addressing allegations about their investment agreements post-IPO. Key findings indicate no evidence of pre-conditions linked to the company’s share subscriptions but reveal a lack of formal board approval for the agreements. All funds from these investments have been recovered, with an additional payment made for an early redemption fee.

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