Fullshare (0607) to sell stake in medical equipment business
Fullshare Holdings (00607) said it agreed to sell 53.1% of the total issued share capital of Shenzhen Anke High-Tech Company Limited for a total of Rmb303.45 million. Upon completion, Fullshare will indirectly own about 19.09% stake in the target company. It is estimated that an unaudited gain, after tax, of about Rmb249 million will be recorded in respect of the disposal. It is intended that the net proceeds of around Rmb253 million will be applied for potential acquisition and investment as and when opportunities arise and the general working capital of the Group. The target company is a joint stock limited liability company incorporated under the laws of the PRC, which is principally engaged in the manufacture and sale of medical equipment and machineries and provision of related technical services.
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