Fashion Daily: Intends to acquire 71% stake in Indilate with 1.42 billion yuan and raise 156 million yuan.

RiBo Fashion announced that the company plans to purchase 71% of the equity of Indilac by issuing shares and paying cash for a total of 1.42 billion yuan, including 11.61 billion yuan for shares and 2.59 billion yuan for cash. After the transaction is completed, Indilac will become a wholly-owned subsidiary. At the same time, it plans to issue shares to raise 156 million yuan in supporting funds to controlling shareholder Liang Feng and his controlled company Shanghai Kuo Yuan, issuing 12 million shares to each of them and raising 93.48 million yuan and 62.32 million yuan respectively. As of the date of issuance of the legal opinion letter, this transaction has already received multiple approvals and authorizations, and the issuance process and subscription objects are compliant.