Asia
Kingworld Medicines Unit Terminates MoU for Proposed Acquisition
Kingworld Medicines Group (HKG:1110) unit Kingworld Medicine and Healthcare Group terminated a memorandum of understanding related to the proposed acquisition of the entire issued share capital of a target company, according to a Monday Hong Kong bourse filing.The unit had entered into an understanding with the intended vendor and guarantors in January.Following the termination, Kingworld Medicine and Healthcare Group requested the return of a HK$3.3 million deposit within five business days from June 15.Kingworld Medicines said the termination is not expected to have any material adverse effect on the group's financial position or operations.
HKG:1110