Jiangxi Rimag to Acquire Sun Seeds, Wingon Medical in HK$353 Million Deal
Jiangxi Rimag (HKG:2522) agreed to acquire 100% equity interests in Hong Kong Sun Seeds Management and Wingon Medical Technology, according to a Monday Hong Kong bourse filing.The consideration comprises HK$185.4 million for Hong Kong Sun Seeds Management and HK$168 million for Wingon Medical Technology, to be settled through the issue of consideration shares and the transfer of treasury shares.The two target companies primarily hold equity interests in Medical Image Insights.Upon completion, Jiangxi Rimag's effective interest in Medical Image Insights will increase to about 25.4% as the stakes held through the targets become fully attributable to the group.The company will issue 49.4 million new shares and transfer 5.7 million treasury shares to the sellers, with the consideration price set at HK$6.405 per share.