Changhong Jiahua Provides Regulatory Update on Privatisation and Planned Delisting

Changhong Jiahua Holdings Ltd. ( (HK:3991) ) just unveiled an announcement.

Changhong Jiahua Holdings and its controlling shareholder, Hongtu Investment Co., Limited, have issued a monthly update on the proposed privatisation of the company via a scheme of arrangement that would result in the withdrawal of its listing from the Hong Kong Stock Exchange. The offeror has already secured approval from the Mianyang City SASAC and completed required filings with the Sichuan Provincial Development and Reform Commission and the Sichuan Provincial Department of Commerce, but several non-waivable regulatory pre-conditions, including approvals and registrations under China’s outbound investment and foreign exchange regime, remain outstanding. The parties stressed that the privatisation and delisting may or may not proceed depending on whether all pre-conditions and other conditions are met, and urged shareholders and potential investors to exercise caution in trading the company’s shares while regulatory clearance is still pending.

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 in Bermuda, operates in the technology and electronics distribution sector, focusing on the sale and provision of IT and related products and services in mainland China and other markets. The company’s shareholder base includes state-linked interests, and its listing status on the Hong Kong Stock Exchange is central to its access to capital and investor base.

Average Trading Volume: 1,588,111

Technical Sentiment Signal: Buy

Current Market Cap: HK$2.96B

For a thorough assessment of 3991 stock, go to TipRanks’ Stock Analysis page.