Universal Health International (HKG:2211) shareholders will meet in Shenyang, China on July 23 to vote on the sale of 30,440,263 shares to Huang Yu Holdings at HK$0.80 apiece.
The investor holds 89% of Allways Health-Care, a manufacturer of traditional Chinese medicines, according to a Friday filing with the Hong Kong bourse.
Net proceeds, estimated at about HK$24.4 million, will be used for working capital, including daily store operations, inventory refills, and e-commere sales.
