Summary by Moomoo AI
Weimob Inc. (Weimob Inc.) announced on January 16, 2024 that it is making preliminary business restructuring plans for its wholly-owned subsidiary Shanghai Weimob Cultural Media Co., Ltd. The restructuring plan may involve the transfer of approximately 50% or more of the target company's equity, valued at not less than RMB36 billion, and may obtain a cash price of not less than RMB18 billion. The target company focuses on marketing operating services on social networking platforms, which seeks a partial or total listing of the target company in the domestic capital market. Micro-Union Group said that the transaction, if completed, would help to reduce the impact of working capital on the Group's cash flow and would use the cash on exchange primarily...Show More