HK Stock Market Move | Yankuang Energy Group (01171) rose more than 4% in the morning. The recent acquisition of SMT Scharf AG's equity has been completed.

Yankuang Energy Group (01171) rose more than 4% in the morning. As of the time of writing, it rose 4.08% to HK$9.7, with a turnover of HK$2.08 billion. In terms of news, Yankuang Energy Group announced on March 1, 2024, that the company has signed a "Share Purchase Agreement - Sale and Purchase of Specific Shares of SMT Scharf AG" with Shareholder Value Management Aktiengesellschaft, Shareholder Value Beteiligungen Aktiengesellschaft, and other 10 parties, as well as a "Share Purchase Agreement (Famous) - Sale and Purchase of Specific Shares of SMT Scharf AG" with Famous Holding GmbH. The company intends to acquire a total of 2,907,454 shares of common stock of SMT Scharf AG ("Target Company") held by the counterparties for a total consideration of approximately 32.1695 million euros in cash. On September 18, 2024, the parties to the transaction signed a "Delivery Condition Confirmation Letter" and other related documents, confirming that the delivery conditions of the transaction have been met or waived.