Sinomax Group Announces Major Share Acquisition

Sinomax Group Ltd. (HK:1418) has released an update.

Sinomax Group Ltd’s subsidiary has made a significant move by entering into an agreement to purchase 45% of a target company’s issued share capital for EUR6 million, equivalent to around HK$50.99 million. This strategic acquisition, priced at EUR146.67 per share, will result in the target company’s financials not being consolidated into Sinomax’s accounts. The deal is notable enough to qualify as a discloseable transaction under the Hong Kong Listing Rules, indicating a potentially material impact on the company.

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