Kangji Medical privatisation proposal clears key pre-conditions

Knight Bidco Limited, the offeror, and Kangji Medical Holdings Limited announced the satisfaction of all pre-conditions related to the privatisation proposal and proposed withdrawal of listing. This includes the offeror receiving the requisite approval from the Anti-trust Bureau of SAMR, and the absence of any outstanding consents, approvals, or legal actions that would impede the proposal.

The implementation of the proposal is now subject to the fulfilment or waiver of remaining conditions, including approval of the scheme at the Court Meeting and sanction by the Grand Court. Shareholders are cautioned that the implementation of the proposal and scheme remains subject to these conditions and may or may not become effective.

The Scheme Document, which details the proposal, is currently being prepared, with an extended despatch deadline of no later than October 31, 2025. The Grand Court's vacation from August 1, 2025 to September 15, 2025 means the company has yet to obtain directions for convening the Court Meeting.