Ruicheng (China) Media Group Limited (HK:1640) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
For further insights into HK:1640 stock, check out TipRanks’ Stock Analysis page.