JBM (Healthcare) Limited (JBM) and Jacobson Pharma Corporation Limited (Jacobson) have entered into an intra-group connected transaction involving their respective subsidiaries Po Chai Herbal Technology Limited (purchaser) and Europharm Laboratoires Company Limited (seller).
Transaction specifics • Asset: 124,500 shares (24.9% equity) in Li Chung Shing Tong (Holdings) Limited (the Target Company). • Consideration: HK$74.70 million, or HK$600 per share, to be settled by Po Chai Herbal on 3 July 2026 using internal resources and/or external financing of the JBM Group. • Post-deal ownership: Po Chai Herbal will control 484,000 shares, lifting JBM’s effective stake to 96.8%; Europharm and, consequently, Jacobson will exit the Target Company. A 3.2% minority interest remains with an independent third party.
Financial impact • Target Company performance: Revenue climbed from HK$108 million in FY2024 to HK$156.43 million in FY2026. Net profit after tax rose from HK$10.29 million in FY2025 to HK$21.66 million in FY2026. Unaudited net assets as at 31 March 2026 stood at HK$155.47 million. • Jacobson will book a gain of about HK$9 million, calculated as the excess of the sale price over the HK$60.63 million carrying amount of the disposed shares, and expects net proceeds of roughly HK$74 million for general working capital. • The Target Company remains a consolidated subsidiary of JBM but ceases to be associated with Jacobson.
Regulatory classification The transaction qualifies as a connected transaction for both JBM and Jacobson under Chapter 14A of the Listing Rules. All percentage ratios are above 0.1% but below 5%, triggering reporting and announcement obligations only; shareholder approval and circular issuance are not required.
Rationale JBM gains strategic and operational control, aiming to streamline governance and support long-term growth of the Target Company. Jacobson monetises a non-controlling stake, redeploying capital to core operations.
Completion is scheduled for 3 July 2026.
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