HK Stock Market Move | GRAND PHARMA (00512) plans to increase its stake by another 4%, and recently proposed to acquire the remaining equity of KENITE Medical for 357 million yuan.

GRAND PHARMA (00512) rose by an additional 4%, as of the time of writing, it increased by 4.14% to HKD 5.28, with a trading volume of HKD 40.55 million. On the news front, on February 21st, GRAND PHARMA announced its intention to exercise part of its subscription rights to acquire the remaining equity of Nanjing Kainite Medical Technology Co., Ltd. According to the announcement, GRAND PHARMA will base the acquisition on 357 million yuan, with the total consideration to Nanjing Fund and Shanghai Hongsheng being 109 million yuan. After the acquisition, GRAND PHARMA will hold 59.91% of the target company's equity. The announcement stated that this acquisition is based on the original agreement signed on July 27, 2020, granting GRAND PHARMA the right to acquire the remaining equity of the target company. The acquisition funds will be paid in installments, with the first payment of 10.35 million yuan to be completed within 15 working days after meeting the relevant conditions. The second and third payments will be made before March 31 and December 31, 2026, respectively, with the amounts and interest clearly specified. In addition, the target company has obtained registration approvals for multiple products in 2024, and the board believes that this acquisition will help enhance the group's product research and development capabilities and market competitiveness.