Automated Systems Exits i-Sprint Stake via Major Share Buyback Deal

Automated Systems Holdings Limited ( (HK:0771) ) has shared an announcement.

Automated Systems Holdings Limited has moved to fully exit its investment in i-Sprint Holdings, a security authentication business, through a sequence of transactions involving a third-party sale and a subsequent share buyback. i-Sprint first sold shares to Secure Trust Technologies for about US$87.9 million, with part of the proceeds funding the repurchase of ASL Security’s roughly 35.42% stake for US$24.98 million.

Following completion of the share buyback, the group will no longer hold any equity in i-Sprint Holdings, ending its status as an associate. The buyback deal is classified as a major transaction under Hong Kong listing rules, but shareholder approval has been secured by written consent from controlling shareholder Teamsun Technology (HK) Limited, allowing the company to proceed without convening a general meeting.

The most recent analyst rating on (HK:0771) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Automated Systems Holdings Limited stock, see the HK:0771 Stock Forecast page.

More about Automated Systems Holdings Limited

Automated Systems Holdings Limited is a Bermuda-incorporated company listed in Hong Kong that operates in the information technology sector. Through subsidiaries such as ASL Security, it has held strategic stakes in security authentication businesses, reflecting a focus on cybersecurity and related technology services in regional markets.

Average Trading Volume: 127,339

Technical Sentiment Signal: Buy

Current Market Cap: HK$679.9M

Find detailed analytics on 0771 stock on TipRanks’ Stock Analysis page.