ST Renfu: China Merchants Shengke's proposed acquisition of more than 30% of shares triggers mandatory tender offer obligation

ST Renfu Announcement: China Merchants Life Science Technology Co., Ltd. plans to subscribe to new shares issued by Renfu Medical Group Co., Ltd. to specific targets, resulting in a shareholding exceeding 30% of the issued shares, thereby triggering the obligation to make a mandatory offer. According to Article 63 of the Administrative Measures for Takeovers of Listed Companies, if the company’s shareholders’ meeting approves, investors may be exempt from making a mandatory offer. China Merchants Shengke has committed that the new shares will not be transferred within 36 months from the end of the issuance. This acquisition is still subject to relevant decision-making and approval procedures, including approval by the shareholders’ meeting and review by the Shanghai Stock Exchange.