Eminence Enterprise Completes Acquisition of Mark Profit Development; Shares Jump 5%

MT Newswires Live

Jan 19

Eminence Enterprise (HKG:0616) said it completed the acquisition of Mark Profit Development, after independent shareholders approved the transaction at a special general meeting in December, according to a Jan. 16 Hong Kong bourse filing.

Shares of the firm were up 5% in Monday morning trade.

Mark Profit became a wholly owned subsidiary of Eminence Enterprise following completion and will be consolidated into the group's financial statements, the filing showed.

The purchase price of HK$286.8 million was satisfied in full through the issuance of a 2025 convertible note.

Separately, the company said the conversion terms of its 2023 convertible note were adjusted following the issuance of the 2025 note and recent share placings.

The conversion price of the 2023 note was revised to HK$0.05 per share from HK$0.07, while the number of conversion shares increased to 490 million from 350 million.

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