NF Energy Saving Corp: Jumps on MoU to buy medical device distributor

BIMI Holdings

02/12/2019 15:18

** China-based energy firm's shares  BIMI.O  up ~28% at
$3.36
    ** Company enters MoU to buy Chinese medical device
distributor Chongqing Guanzan Technology Co Ltd
    ** For the deal to go through, Chongqing Guanzan will have
to complete the acquisition of an 80% controlling interest in
its current affiliate Chongqing Shude Pharmaceutical Co Ltd
 urn:newsml:reuters.com:*:nGNX3xMFxt
    ** Upon transaction close, Chongqing Guanzan will operate as
a wholly owned unit of BIMI
    ** NF Energy among best performers across U.S. exchanges
    ** Despite session gains, stock down ~78% YTD

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