Ruicheng Media Announces Multimillion-Dollar Acquisition

Ruicheng (China) Media Group Limited (HK:1640) has released an update.

Ruicheng (China) Media Group Limited has announced a major acquisition, agreeing to buy the entire equity interests of an unnamed target company for HK$82.6 million, to be settled in both shares and cash. Upon completion, the target will become a fully-owned subsidiary, integrating its financial results into the Group’s consolidated statements. The deal is significant enough to be classified as a discloseable transaction, requiring adherence to the reporting and announcement guidelines of the Hong Kong Stock Exchange.

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