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Kingworld Medicines Group Ltd. ( (HK:1110) ) has provided an update.
Kingworld Medicines Group Limited has announced that its wholly owned subsidiary, Kingworld Medicine (BVI), has entered into a non-legally binding memorandum of understanding to acquire a pharmaceutical manufacturing company that also owns certain landed property, with the consideration to be settled in cash. The proposed deal, which includes a refundable deposit of HK$3.32 million and a base purchase price of HK$66.44 million subject to adjustments for equipment value and net working capital, could become a discloseable transaction under Hong Kong listing rules if it proceeds, potentially expanding Kingworld’s capabilities in pharmaceutical production while leaving shareholders cautioned that the transaction may or may not materialise pending due diligence and a definitive sale and purchase agreement.
The most recent analyst rating on (HK:1110) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Kingworld Medicines Group Ltd. stock, see the HK:1110 Stock Forecast page.
More about Kingworld Medicines Group Ltd.
Kingworld Medicines Group Limited operates in the pharmaceutical sector, focusing on the distribution and related activities of medicines and healthcare products, and is listed on the Hong Kong Stock Exchange. Through its subsidiaries, the group seeks growth opportunities along the pharmaceutical value chain, including manufacturing and associated assets, to strengthen its market position.
Average Trading Volume: 979,278
Technical Sentiment Signal: Sell
Current Market Cap: HK$309.3M
For detailed information about 1110 stock, go to TipRanks’ Stock Analysis page.