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home / news releases / ABVC - ABVC rises on acquisition of real estate assets for strategic investments

ABVC - ABVC rises on acquisition of real estate assets for strategic investments

ABVC BioPharma Inc.

2023-07-26 11:02:56 ET

  • ABVC BioPharma ( NASDAQ: ABVC ) trades 50% higher on Wednesday after it has signed a term sheet with Zhonghui United Technology Group Co to acquire real estates assets via an equity transfer, estimated at $7.4M.
  • The deal aims to advance the development of a large-scale health and wellness base in Chengdu, China.
  • ABVC intends to transfer common shares to Zhonghui at $20 per share in consideration for a 20% ownership of Zhonghui's property near Chengdu, estimated at $37M and a piece of land Zhonghui owns in that same area.
  • Source: Press Release

For further details see:

ABVC rises on acquisition of real estate assets for strategic investments
Stock Information
Company Name: ABVC BioPharma Inc.
Stock Symbol: ABVC
Market: NASDAQ
Website: abvcpharma.com
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