China Vered Financial Unit to Acquire Wisdom Moon Class A Stock; Shares Decline 1.6%
MT Newswires Live
Jun 23
China Vered Financial's (HKG:0245) CM Strategic Investment Management unit agreed to acquire over 43% of Wisdom Moon (BVI)'s Class A shares in a transaction valued at around HK$514 million, according to a Sunday bourse filing.
Shares declined 1.6% in Monday's afternoon trade.
Under the agreement, CM Strategic will buy around 24% of Wisdom Moon's Class A shares from Integrated Winners Enterprises for HK$284 million, and a further 19% of Class A shares from Smart Silver Global for HK$230 million.
The transactions are expected to close Wednesday.
The purchase will bring CM Strategic's ownership of Class A shares to a little over 52%, the filing said. The Class A shares have no voting rights.
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