Summary by Moomoo AI
Most Kwai Chung Limited ("the Company") announced on July 11, 2024 that it had completed an acquisition trade through its indirectly wholly owned subsidiary, purchasing 31% of the issued share capital of the target company To Be Honest Limited at a consideration of HKD 2,908,152. Prior to the acquisition, the target company was held by Seller A, Seller B, Seller C and the Buyer with 37.5%, 37.5%, 5%, and 20% of the shares respectively. After the completion of the trade, the Buyer will hold 51% of the shares of the target company, making it an indirectly non-wholly-owned subsidiary of the Company, and its financial performance will be included in the financial statements of the group. The target company is primarily engaged in advertising and promotion services, and this acquisition will help the group expand its market share and increase its revenue. According to the listing rules, this trade is classified as a discloseable transaction.