Cogobuy Group (HK:0400) has released an update.
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Cogobuy Group has announced its decision to exercise a redemption right, leading to the repurchase of approximately 5.58% interest in Comtech for around RMB210.6 million. This move, financed through internal resources, will increase Cogobuy’s stake in Comtech from 66.84% to 72.42%, ensuring it remains a non-wholly owned subsidiary. Investors in the financial markets may find this strategic consolidation a significant move towards strengthening Cogobuy’s market position.
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