Lifestyle China Group (HK:2136) has released an update.
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Lifestyle China Group is set to undergo privatization through a scheme of arrangement proposed by Fortune Spirit Group Limited, which involves the cancellation of shares and compensating shareholders with HK$0.913 per share in cash. The process, which requires approximately HK$335 million, will be financed through the Offeror’s internal resources. Trading in the company’s shares is expected to resume following the completion of this scheme and the proposed withdrawal of its listing on the Hong Kong Stock Exchange.
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