M&A
confidence high
sentiment neutral
materiality 0.50
ADDENTAX GROUP CORP. (ATXG): M&A transaction — Addentax completes acquisition of Keemo Fashion for $5.5M, gains 62.18% control
ADDENTAX GROUP CORP.
- Acquired 34.2M shares of Keemo Fashion from Guang Wen Global Group for ~$5.5M.
- Consideration paid via transfer of a portion of an existing bond held by Addentax.
- Post-acquisition, Addentax holds 62.18% voting rights, making Keemo a controlled subsidiary.