PANews reported on July 1st that Leading Medical Biotechnology Co., Ltd. (00399) announced the signing of a memorandum of understanding, planning to acquire the entire equity of the target company, on the premise that the target company completes the acquisition of Conflux blockchain-related assets.
The acquisition price will be paid through cash, company shares, or convertible bonds, with the specific amount to be determined in the formal agreement. The memorandum of understanding is valid for 12 months, during which the seller shall not negotiate or trade the target company's equity with other parties.
Leading Medical hopes to expand its business into the blockchain technology field through this acquisition, achieve business diversification, and find new profit growth points. However, the transaction still needs to be implemented after signing a formal agreement, and related announcements will be published in a timely manner according to listing rules, and shareholders and investors should act cautiously.
It is reported that the Hong Kong stock market is closed today due to the Hong Kong Special Administrative Region Establishment Day.
