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Grand Pharmaceutical to Acquire Remaining Stake in Nanjing Kainite

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Grand Pharmaceutical to Acquire Remaining Stake in Nanjing Kainite

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Grand Pharmaceutical Group Limited ( (HK:0512) ) has shared an update.

Grand Pharmaceutical Group Limited, a company incorporated in Bermuda, has announced a proposed partial exercise of its right to acquire the remaining equity interest in Nanjing Kainite Medical Technology Company Limited. This acquisition involves an agreement with Nanjing Fund and Shanghai Hongsheng, based on a valuation of approximately RMB357 million. Upon completion, Grand Pharmaceutical will own 59.91% of the target company. This transaction is deemed a connected transaction under the company’s listing rules, requiring reporting and announcement but not a circular or independent shareholders’ approval.

More about Grand Pharmaceutical Group Limited

YTD Price Performance: -3.54%

Average Trading Volume: 2,778,015

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$16.75B

See more insights into 0512 stock on TipRanks’ Stock Analysis page.

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