China Traditional Chinese Medicine Holdings Co (HK:0570) has released an update.
China Traditional Chinese Medicine Holdings Co. Limited and its offeror, Sinopharm Common Wealth Company Limited, are moving ahead with their pre-conditional proposal to privatize the company through a scheme of arrangement. They are currently in the process of obtaining necessary approvals and fulfilling conditions, including reviews from Chinese regulatory authorities concerning outbound investment and anti-monopoly laws. The privatization efforts include a proposed withdrawal of the company’s listing on the stock exchange.
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