China Renaissance Holdings (HK:1911) has released an update.
China Renaissance Holdings has announced a significant transaction involving its wholly-owned subsidiaries, Shanghai Huijia and CR Broking, who entered into an Exit Agreement with Think Trader, Wuxi Qunxing, and Mr. Xu to dissolve mutual investments by reference to cost. The transaction is a mix of both acquisition and disposal for the company and is classified as a discloseable transaction under the Listing Rules, requiring announcement but not shareholder approval. The deal includes a repurchase and an acquisition of equity interests with interdependent conditions, and a controlled account mechanism for payment completion.
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