C-MER Eye Care (03309.HK) to Acquire 5% Stake in Avalon Global for HK$38.875 Million

Original Title: C-MER Medical (03309) Plans to Acquire 5% Stake in Healthcare Company Avalon Global Source: Zhitong Finance

(Zhitong Finance APP) C-MER Medical (03309) announced that its subsidiary, C-MER Investment, intends to subscribe for a 5% equity interest in Avalon Global at a consideration of HK$38.875 million. The consideration will be settled partly in cash and partly through the issuance of consideration shares by the Company to Avalon Global (or its nominee) at HK$5.03 per share upon completion. Upon completion, Avalon Global will hold approximately 0.37% of the Company’s enlarged issued share capital.

The announcement stated that Avalon Global’s subsidiaries are primarily engaged in the development of next-generation healthcare solutions.