ABVC BioPharma Enters Into Agreement To Exchange 20% Stake In Real Estate Property Of Zhonghui

(RTTNews) - ABVC BioPharma Inc. (ABVC) said it entered into a Cooperation Agreement to exchange a 20% ownership stake in real estate property of Zhonghui United Technology (Chengdu) Group Co., Ltd. and its affiliated enterprises.

As per the terms of the Cooperation deal, the estimated value of the transaction is about $7.4 million, equivalent to 370,000 shares of ABVC common stock at $20 per share.

As per the current Cooperation Agreement, ABVC and Zhonghui agree to collaborate on developing a large-scale health and wellness base. They aim to establish a comprehensive facility that offers a wide range of health and wellness services to promote a healthy lifestyle and well-being.

Specifically, a healthcare center for senior living, long-term care, and medical care in the areas of ABVCs' special interests, such as Ophthalmology, Oncology, and Central Nervous Systems, is planned to be established as the base for the China market and global development.