WEIGAO GROUP sells Weigao Purui for a final consideration of 8.5 billion RMB in exchange for over 260 million A shares of Weigao Blood Purification
WEIGAO GROUP (01066.HK) announced that the company, together with Weihai Shengxi and Weihai Ruiming, will sell a total of 95.9784% equity of Weigao Purui to Weigao Blood Purification (603014.SH) for a final consideration of approximately RMB 8.511 billion. Weigao Blood Purification will issue 272 million consideration shares, priced at RMB 31.29 per share.
Upon completion, the group (including the company and Weihai Ruiming) will collectively receive 261 million consideration shares, and its shareholding in Weigao Blood Purification will increase from the current 23.53% to 52.10%. The company will become the "flagship" platform for medical devices under the Weigao Group
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