An announcement from Mexan ( (HK:0022) ) is now available.
Mexan, a company involved in the trading of building materials and fit-out construction projects, has announced the reclassification of a notifiable transaction as a major transaction following the acquisition of full ownership of a target company. This acquisition, completed at a nominal cost, is strategically aimed at enhancing operational control and aligning with long-term goals in the construction industry. The move is expected to improve revenue and client base, despite a segment loss due to impairment losses. With the elimination of minority shareholder constraints, Mexan can implement effective turnaround strategies, supported by a growing client base and confirmed orders.
More about Mexan
YTD Price Performance: 15.71%
Average Trading Volume: 675,109
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$159.3M
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