Lisi Group Signs Letter of Intent for Potential Acquisition of Luxembourg-based Company, Shares Up 3%

MT Newswires Live10-23

Lisi Group's (HKG:0526) subsidiary, More Concept, entered into a letter of intent with Manukura (CMCI) for the possible purchase of Emerald Holding (Luxembourg) S.à.r.l, a Tuesday Hong Kong bourse filing said.

The consideration for the purchase is expected to be between $300 million and $320 million, with the company and its controlling shareholder, Li Lixin, to serve as guarantors for the potential acquisition.

The plastic and hardware household items manufacturer expects to utilize the target company to develop its business internationally.

The company's shares were up over 3% in recent trade.

Price (HKD): $0.20, Change: $+0.0060, Percent Change: +3.08%

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