China Youzan (08083) fell by more than 7%, down 7.64% at press time, to HK$0.133, with a turnover of HK$5.34 million.
The Zhitong Finance App learned that China Youzan (08083) fell by more than 7%, down 7.64% at press time, to HK$0.133, with a turnover of HK$5.34 million.
Earlier, in June, the company announced that it would acquire 48.1% of Youzan Technology's shares at a total cost of HK$2,619 billion. It will pay for the issuance of 14.55 billion shares upon completion, accounting for 44.12% of the expanded share capital, and an issue price of HK$0.18. After completion, the company's shareholding in Youzan Technology increased from 51.9% to 100%.
On December 29, the company announced that the acquisition was completed on December 29, 2023 in accordance with the terms of the sales agreement. After completion, 14.55 billion price shares were issued to the seller at an issue price of HK$0.18 per share in proportion to the sellers' respective sales shares to cover the total cost of HK$2,619 billion; and 6.66,700 cost shares were issued to Dongying as compensation for providing financial advisory services to the company in connection with the acquisition.
According to reports, Youzan Technology Group mainly provides various cloud business services to merchants through its subscription solutions and merchant solutions. The acquisition will bring significant benefits to shareholders: unleash the value of Youzan Technology with significant growth in business and financial prospects; improve operational efficiency; and broaden the shareholder base.