Newborn Town Inc. (HK:9911) has released an update.
Newborn Town Inc. has announced a major transaction where it will acquire additional shares to make the Target Company a wholly-owned subsidiary, with the deal involving both cash and share consideration totaling approximately HK$1.98 billion. The acquisition will result in the full consolidation of the Target Company’s financial results into Newborn’s statements. An extraordinary general meeting will be convened to seek shareholder approval, with independent advice provided to ensure fairness and compliance with listing rules.
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