Zhitong Finance App News, Duoniu Technology (01961) announced that on September 8, 2023, the company plans to acquire all of Infinities Wonder Limited's issued share capital from Infinities B&M Technology Limited at a cost of approximately HK$135 million. The price will be paid by allocating and issuing 96.3 million consideration shares to the seller. The issue price is HK$1.4 per share, and the compensation shares account for approximately 13.58% of the expanded share capital.
According to the announcement, all the prerequisites contained in the sale agreement have been fulfilled, and the completion was fulfilled on April 24, 2024 in accordance with the terms and conditions of the sale agreement. After completion, the company will hold all of the issued share capital of the target company, and the target company will become a wholly-owned subsidiary of the company and indirectly hold 60% of Beijing Wande's shares. The target company's financial results will still be comprehensively recorded in the group's comprehensive financial statements. According to the sale agreement, the company has allotted and issued 96.3 million consideration shares under the acquisition to the seller at an issue price of HK$1.4 per share.