Luye Pharma Group's Subsidiary's Investor Buys 25% Stake in Nanjing Luye for 1 Billion Yuan

MT Newswires Live08-13

Luye Pharma Group's (HKG:2186) subsidiary Shenzhen Luye's Investment Agreement's initial investment step has been completed with the investor, Shenzhen Luye Private Equity Investment Fund Partnership, acquiring 25% equity interest in Nanjing Luye for 1.00 billion yuan, a Monday filing with the Hong Kong Exchange said.

Under the agreement, the investor was to buy 25% equity interest in Nanjing from some of the company's subsidiaries namely Kang Hai Pharmaceutical, Hong Kong Luye and Apex Group, for 1.00 billion yuan and then for the next step, use the purchased interest to acquire 25% new equity interest in Shenzen Luye.

Price (HKD): $2.89, Change: $-0.02, Percent Change: -0.69%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment