The latest announcement is out from China Qinfa Group Ltd. ( (HK:0866) ).
China Qinfa Group Ltd. has announced the acquisition of 100% equity interest in PT Widyanusa Mandiri, a substantial shareholder of SDE, a non-wholly-owned subsidiary controlled by the company. The acquisition involves purchasing 99% and 1% equity interests from two sellers for a total cash consideration of approximately USD8.5 million and USD3,000, respectively. This move will consolidate the Target Company into Qinfa’s financial statements, enhancing its control and potentially strengthening its market position. The transaction is classified as a connected transaction under Hong Kong’s Listing Rules but is exempt from certain requirements due to its fairness and alignment with shareholder interests.
More about China Qinfa Group Ltd.
YTD Price Performance: -11.40%
Average Trading Volume: 4,086,968
Technical Sentiment Signal: Sell
Current Market Cap: HK$2.56B
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