Leading Pharma Biotech Plans to Acquire Full Ownership of Conflux to Expand in Blockchain Technology
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Odaily Planet Daily reports that Hong Kong-listed company Leading Pharma-Biotech Limited (00399) has announced the signing of a memorandum of understanding, planning to acquire 100% equity of a target company, contingent upon the target company completing the acquisition of Conflux blockchain-related assets. The purchase price 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 is prohibited from negotiating or transacting the target company's equity with any other party. Leading Pharma-Biotech aims to expand its business into the blockchain technology sector through this acquisition, seeking business diversification and new profit growth opportunities. However, the transaction will only be finalized upon the signing of a formal agreement. Relevant announcements will be made in accordance with listing rules, and shareholders and investors are advised to exercise caution.
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