Auto Italia Holdings (HK:0720) has released an update.
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Auto Italia Holdings has completed the acquisition of an entire issued share capital, resulting in the Target Company becoming its wholly-owned subsidiary. The transaction involved issuing 800 million consideration shares, which now represent 13.13% of Auto Italia’s enlarged share capital. This strategic move aims to integrate the Target Company’s financial results into Auto Italia’s consolidated statements, potentially impacting its future financial performance.
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