Summary by Moomoo AI
Newborntown announced on June 27, 2024 that it has signed a share purchase agreement with BGFG, JJQJ and JZZT to acquire a total of 77,832,740 shares in NBT Social Networking, with a total price of HKD 1,982,657,556. This transaction will make the target company a wholly-owned subsidiary of Newborntown, and its financial performance will be fully consolidated into the group's financial statements. After the completion of the transaction, Newborntown will issue approximately 219,748,391 shares at a share price and pay a cash price of HKD 993,789,796. In addition, the share purchase agreement also requires independent shareholder approval and will convene a special shareholder meeting to make relevant decisions. The completion of the transaction is still subject to certain conditions being met or exempted.