Shaw Brothers acquired over 4.5 billion for Huayi Brothers Media under Li Ruigang, with the stock price having previously dropped by more than 20%
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Shaw Brothers (953) announced the acquisition of over 4.577 billion yuan in business from Huaren Culture CMC, which is under Li Ruigang, including Dongyang Noon Sunshine Film and Television, among others. This transaction will issue 15.93 billion shares, with a distribution price of 0.32 yuan per share, representing a discount of 15.8% compared to Wednesday's closing price. Following the announcement, Shaw Brothers' stock price fell by more than 20%, currently reported at 0.3 yuan. This transaction constitutes a major transaction, and the company will hold an extraordinary general meeting for independent shareholders to review
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