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C Cheng Holdings Ltd. ( (HK:1486) ) has provided an update.
C Cheng Holdings Limited has announced that shareholders of its investee company Element Investment have reached a preliminary consensus on a restructuring under which Gain Sky, an existing but unpaid shareholder, will introduce new investor funds directly into Element Investment’s PRC subsidiary in lieu of paying approximately RMB22.2 million originally due for its subscribed shares. Following this injection, Gain Sky’s 22,200,000 unpaid shares, representing about 40.36% of Element Investment’s issued capital, are expected to be extinguished or reduced, resulting in Element Investment becoming a non-wholly-owned subsidiary whose financial results will be consolidated into C Cheng’s accounts, while the relevant PRC subsidiary will be reclassified as an associate; the transaction constitutes a discloseable transaction under Hong Kong listing rules and remains subject to definitive agreements and may or may not proceed.
The most recent analyst rating on (HK:1486) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on C Cheng Holdings Ltd. stock, see the HK:1486 Stock Forecast page.
More about C Cheng Holdings Ltd.
C Cheng Holdings Limited is a Hong Kong-listed company engaged through subsidiaries in investment and project management activities, including interests in Element Investment and its PRC-based operations, positioning it within the broader professional and investment services sector in Greater China.
Average Trading Volume: 98,545
Technical Sentiment Signal: Buy
Current Market Cap: HK$281.1M
Learn more about 1486 stock on TipRanks’ Stock Analysis page.