Beijing Tongrentang's (SHA:600085) subsidiary, Beijing Tongrentang Commercial Investment Group, agreed to terminate plans to acquire Honghui Pharmaceutical (Beijing), according to a Shanghai bourse filing on Wednesday.
As part of the agreement, Tongrentang Commercial will withdraw from Honghui Pharma through the latter's capital reduction, with the capital reduction consideration amounting to 104.6 million yuan.
Tongrentang will no longer need to pay the equity acquisition price because it is offset by the capital reduction consideration.
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