KINGWORLD terminates acquisition MOU, seeks HK$3.32 million deposit refund

Bulletin Express

Jun 15

Hong Kong-listed Kingworld Medicines Group Limited (KINGWORLD) has cancelled its memorandum of understanding (MOU) for a proposed full acquisition of an unnamed target company.

The MOU, signed on 22 January 2026 between wholly-owned subsidiary Kingworld Medicine and Healthcare Group Limited (BVI), the intended vendor and its guarantors, granted either party the right to terminate under specified conditions. Exercising this right, the subsidiary ended the agreement with immediate effect on 15 June 2026.

Upon termination, KINGWORLD demanded the return of the HK$3.32 million deposit within five business days from 15 June 2026.

The board stated that ending the MOU will not have any material adverse impact on the group’s current financial position or operations. Nonetheless, shareholders and potential investors were advised to exercise caution when dealing in the company’s shares.

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Exercising this right, the subsidiary ended the agreement with immediate effect on 15 June 2026.</p>\n<p>Upon termination, KINGWORLD demanded the return of the HK$3.32 million deposit within five business days from 15 June 2026.</p>\n<p>The board stated that ending the MOU will not have any material adverse impact on the group’s current financial position or operations. 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