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EPS Creative Health Raises R&E Acquisition Consideration; Shares Up 3%

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EPS Creative Health Technology (HKG:3860) will issue 60.3 million new shares to settle the revised consideration for its acquisition of a 65% stake in R&E Corporation, according to a Hong Kong bourse filing on Wednesday.

The acquisition consideration was increased to about HK$60.3 million from HK$56.2 million after R&E Corporation's actual profit exceeded its agreed profit target.

The company expects to complete the share issuance by July 31. The new shares, priced at HK$1.00 each, will represent about 10.4% of its enlarged share capital.

Shares of the knitwear apparel maker were up over 3% in recent trade.

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