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%

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