Asia
Shanghai Chicmax Cosmetic to Buy 29% Stake in Shanghai Yiye for 384M Yuan
Shanghai Chicmax Cosmetic (HKG:2145) said its wholly owned unit Shanghai Qingdao agreed to acquire a 29% stake in Shanghai Yiye for about 384 million yuan.The stake comprises 23% from Dajiao Investment for about 304.5 million yuan and 6% from Ms. Liu for 79.4 million yuan, according to a Tuesday Hong Kong exchange filing.Dajiao Investment may also require Shanghai Qingdao to acquire an additional 5% stake during the option period.Shanghai Chicmax shares fell over 1% in recent trade.
HKG:2145
