Summary by Moomoo AI
CHINA PHARMACEUTICALS HOLDINGS LIMITED (“CHINESE MEDICINE”) ANNOUNCED ON 9 FEBRUARY 2024 THAT IT WILL BE PRIVATIZED THROUGH A PLANNED ARRANGEMENT AND REVOKED THE LISTING STATUS OF THE HONG KONG UNITED STOCK EXCHANGE LIMITED (HKEX). The privatization was proposed by Kongyu Yue Co., Ltd. (Contracting Party), and an independent Board of Directors has been established. CITIC SECURITIES (HONG KONG) LIMITED AS FINANCIAL ADVISOR TO THE CONTRACTOR. The plan shares will be written off at a price of HK$4.6 per share, which is approximately 34.11% above the closing market price of the last transaction and a significant premium over the past period of time. The controlling shareholder plans shares to be written off at the purchaser's share as a write-off price. The implementation...Show More