Auto Italia Holdings (HK:0720) has released an update.
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Auto Italia Holdings Limited has conditionally agreed to acquire the entire issued share capital of an unnamed target company for HK$165,900,000, to be settled through the issuance of consideration shares and promissory notes. This transaction represents a significant move for the company, accounting for approximately 13.13% of its enlarged share capital post-issuance under the General Mandate, which allows for the issue of up to 20% of the company’s current shares. While the deal is subject to certain conditions and may not proceed, it marks a potential expansion for Auto Italia Holdings, and shareholders are advised to exercise caution when dealing with company shares.
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