Kangji Medical Privatization Wins Court Sanction

MT Newswires Live

12/02

Kangji Medical (HKG:9997) cleared a key hurdle in its HK$9.25-per-share privatization after the Grand Court of the Cayman Islands sanctioned the scheme of arrangement by Knight Bidco, according to a Tuesday joint Hong Kong bourse filing.

The scheme is expected to become effective on Dec. 5, once the sanction order is registered with the Cayman registrar.

Kangji's shares will be withdrawn from listing on Dec. 9, the filing showed.

Upon completion, Kangji will become a wholly owned subsidiary of Knight Bidco.

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