Ruicheng Media Completes Strategic Acquisition

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

Ruicheng (China) Media Group Limited has successfully acquired the entire equity interests in the Target Company, making it a wholly-owned subsidiary with the transaction involving an issue of 80,000,000 Consideration Shares under General Mandate. The Consideration Shares, worth HK$48,000,000, were issued at HK$0.60 each on the completion date, resulting in significant changes to the company’s shareholding structure. Post-acquisition, Vendor A and Vendor B have become substantial shareholders, holding approximately 11.43% and 2.86% of the enlarged issued share capital, respectively.

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