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Luda Technology Acquires 4% Stake In The Hong Kong International New Economic Research Institute For $1.2M Cash

Benzinga · 05/28 13:04

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Luda Technology Group Limited (the "Company" or "Luda Technology"), (NYSE:LUD), a manufacturer and trader of stainless steel and carbon steel flanges and fittings products, announced today the execution of a Sale and Purchase Agreement (the "SPA") to acquire a strategic equity interest in Hong Kong International New Economic Research Institute Limited (the "INERI").

Under the SPA, Luda Technology acquired 4% of INERI's issued and outstanding shares for a total cash consideration of US$1.2 million. This investment underscores Luda Technology's commitment to exploring emerging technologies and diversifying its growth strategy.

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