- Chinese low-cost retailer MINISO Group Holding Ltd (NYSE:MNSO) has agreed to acquire the remaining 80% equity stake in YGF Investment V Limited. The total consideration of this transaction is estimated to be RMB700.4 million ($108.4 million).
- YGF Investment is a joint venture between MINISO and YGF MC Limited formed to establish MINISO’s new headquarters building.
- After the acquisition, MINISO will hold 100% equity interests in YGF Investment and start to consolidate the financial results of YGF Investment into its financial statements.
- The deal is expected to close in Q2 2022.
- The total investment for the headquarters building project is estimated to be approximately RMB2.885 billion and will be completed in 2025.
- The company held $1.06 billion in cash and equivalents as of June 30, 2021.
- Price Action: MNSO shares closed lower by 3.38% at $13.42 on Friday.
Adastra Q3 Revenue Grows 110% YoY To $2.83M
Adastra Holdings Ltd. (OTCPK:XTXXF) (CSE:XTRX)(FRA:D2EP), released its financial results for the three and nine months ended September 30, 2022.
Q3 2022 Financial Highlights
