Good Child International (01086) rose more than 9%, up 50% since the lowest point of the year in November. As of press time, it rose 9.09%, to HKD 0.60, with a turnover of HKD 1.23 million.
According to the financial news app, Good Child International (01086) rose more than 9%, up 50% since the lowest point of the year in November. As of press time, it rose 9.09%, to HKD 0.60, with a turnover of HKD 1.23 million.
On the news front, Good Child International recently announced that on November 15, 2023, the buyer (an indirect wholly-owned subsidiary of the company, CYBEX GmbH) and the seller (the major shareholder of the target company) entered into a share purchase agreement for the purchase and sale of shares (equivalent to the remaining 20% equity of the target company, Columbus Trading-Partners Japan Limited). The consideration for the acquisition is JPY 258 million.
The Board of Directors believes that the sale of a minority stake by the seller will further consolidate the Group's control over the target company, streamline decision-making processes, enable the company to quickly implement strategic plans that meet its business objectives, and enable shareholders to directly benefit from the company's increased market share in Japan. The Board of Directors further believes that since the future development prospects of the target company are financially favorable to the Group, the cost of the acquisition is reasonable, and the acquisition provides the Group with an opportunity to further leverage the existing synergies between the target company's established position as a major youth product group in the industry value chain and the Company, and enhance the Group's market position in the profitable Japanese market.