BOQI International Medical Inc: Jumps on deal to buy medical distributor

BIMI Holdings

03/02/2020 16:11

** U.S.-listed shares of China-based energy firm  BIMI.O 
rise ~30% to $6.45 - an over three-month high
    ** Co announces it will buy Chinese medical distributor
Chongqing Guanzan Technology Co Ltd through BIMI's wholly-owned
subsidiary Beijing Xin Rong Xin Industrial Development Co Ltd
    ** Under the deal, BIMI's subsidiary will purchase all
shares of Chongqing Guanzan for cash and stock deal of about
$14.3 mln  urn:newsml:reuters.com:*:nGNX13LhkB
    ** Transaction expected to close in April 2020 
    ** Co among best performers across all U.S. exchanges 
    ** Stock had fallen ~79% in 2019, after three straight years
of gains  

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))