[ET Net News Agency, 4 June 2019] China Biotech Services Holdings Limited (08037) said
its subsidiary Gain Access Holdings Limited has agreed to buy 51% of the issued shares of
Fortstone International (Hong Kong) Limited (the target company) at a consideration of
HK$12.24 million.
HK$3.06 million of the consideration will be settled by issue and allotment of
consideration shares. The consideration shares represent approximately 0.16% of the issued
share capital of the company after enlargement. The issue price will be HK$2, a premium of
approximately 51.5% over the closing price of HK$1.32 per share on the date of the sale
and purchase agreement. The remaining consideration will be settled by cash.
The principal business of the target company is the provision of insurance brokerage
service. It is a licensed insurance broker of Professional Insurance Brokers Association
in Hong Kong. (RC)
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08037 CH BIOTECH SER
Nominal 
0.265 -0.005 (-1.852%) Others
04/06/2019 15:55
Ch Biotech Ser (08037) to buy 51% of insurance company
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