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Apex Ace Holding Ltd. ( (HK:6036) ) has shared an update.
Apex Ace Holding Limited has agreed to acquire an additional 18% stake in its non-wholly owned subsidiary Data Star Inc. from an existing substantial shareholder for HK$65.3 million, to be paid partly in cash and partly via a promissory note. The deal will raise Apex Ace’s indirect interest in Data Star from 72% to 90%, further strengthening its control over the subsidiary while the target’s financial results will continue to be consolidated into the group’s accounts. Classified as both a discloseable and connected transaction under Hong Kong listing rules, the acquisition has been approved by the board and endorsed by independent non-executive directors as fair, reasonable and on normal commercial terms, meaning it is exempt from shareholder approval but remains conditional on certain requirements being met, and investors are cautioned that completion is not yet assured.
The most recent analyst rating on (HK:6036) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Apex Ace Holding Ltd. stock, see the HK:6036 Stock Forecast page.
More about Apex Ace Holding Ltd.
Apex Ace Holding Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries with interests in technology-related businesses, including Data Star Inc., in which it already holds a controlling stake. The group consolidates the financial results of these subsidiaries into its overall financial statements, reflecting its focus on expanding and tightening control over its portfolio companies within the broader technology sector.
Average Trading Volume: 334,435
Technical Sentiment Signal: Hold
Current Market Cap: HK$483.8M
For an in-depth examination of 6036 stock, go to TipRanks’ Overview page.