Shanghai Sanyou Medical Co., Ltd (SHSE:688085) agreed to acquire 37.1077% stake in SMTP Technology Co., Ltd. from Cao Qun and Xu Nong on May 6, 2024. Currently, the company owns 51.8154% stake in SMTP Technology. Cao Qun holds 30.1071% stake and Xu Nong holds 7.0006% stake in SMTP.

The issue price for this asset acquisition is CNY 13.18 per share. Shanghai Sanyou will issue A shares to not more than 35 specific investors to raise supporting funds. The transaction was approved by the 11th session of the company?s 3rd directorate, 8th session of the company?s 3rd supervisory board.

The transaction is still subject to approval from the shareholders of Shanghai Sanyou and approvals from Shanghai Stock Exchange and CSRC.