PANews reported on July 1 that the Hong Kong-listed company Navigating Pharmaceuticals Biotechnology Co., Ltd. (00399) announced the signing of a memorandum of understanding to acquire 100% of the equity of the target company, contingent upon the target company completing the acquisition of Conflux blockchain-related assets.
The price of this acquisition will be paid in cash, company shares, or convertible bonds, with the specific amount to be determined in the formal agreement. The memorandum of understanding is valid for 12 months, during which the seller shall not negotiate or transact with other parties regarding the equity of the target company.
Navigating Pharmaceuticals aims to expand its business into the blockchain technology field through this acquisition, achieving business diversification and seeking new profit growth points. However, the transaction will only be finalized after a formal agreement is signed, and relevant announcements will be made in accordance with listing rules in a timely manner. Shareholders and investors should act with caution.
It is reported that the Hong Kong stock market is closed today in observance of the anniversary of the establishment of the Hong Kong Special Administrative Region.
