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An announcement from Changhong Jiahua Holdings Ltd. ( (HK:3991) ) is now available.
Hongtu Investment Co., Limited and Changhong Jiahua Holdings Limited provided a monthly update on the proposed privatisation of Changhong Jiahua and its planned withdrawal from the Hong Kong Stock Exchange. The deal, to be executed via a scheme of arrangement, remains subject to several non-waivable regulatory pre-conditions under outbound direct investment rules in mainland China.
The parties confirmed that approval from Mianyang City SASAC has been obtained, but necessary clearances from the Sichuan Provincial Development and Reform Commission, the Sichuan Provincial Department of Commerce and the State Administration of Foreign Exchange are still pending. The Offeror continues to work toward satisfying these conditions, while warning shareholders and potential investors that the transaction may not proceed and urging caution in trading the company’s shares until further announcements are made.
The most recent analyst rating on (HK:3991) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Changhong Jiahua Holdings Ltd. stock, see the HK:3991 Stock Forecast page.
More about Changhong Jiahua Holdings Ltd.
Changhong Jiahua Holdings Limited, incorporated in Hong Kong and listed on the Hong Kong Stock Exchange, operates in the technology and electronics distribution sector. The company is the subject of a privatisation proposal by Hongtu Investment Co., Limited, which seeks to delist Changhong Jiahua through a scheme of arrangement under Bermuda law.
Average Trading Volume: 1,652,306
Technical Sentiment Signal: Buy
Current Market Cap: HK$2.93B
See more data about 3991 stock on TipRanks’ Stock Analysis page.