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The latest update is out from China Boton Group Co., Ltd. ( (HK:3318) ).
China Boton Group has entered into a supplemental agreement concerning the previously announced very substantial disposal involving the resumption of land held by its subsidiary Shenzhen Boton in Nanshan District, Shenzhen. Under the new arrangement, Shenzhen Baishuo New City Investment Co., Ltd., a PRC leasing and business services company wholly owned by a Shenzhen state-owned enterprise, is introduced as the market entity that will assume the rights and obligations of the local authority under the existing land resumption agreement, while Shenzhen Boton’s rights remain unchanged. The supplemental agreement clarifies the relationships and recourse among the local authority, Baishuo Xincheng and Shenzhen Boton, including provisions that the local authority will continue to perform if Baishuo Xincheng cannot, and that Shenzhen Boton may take action against either party in case of breach. The board considers the terms fair and reasonable and believes the arrangement is in the interests of the company and its shareholders, suggesting the disposal process remains on track with reinforced contractual safeguards and no adverse change to Boton’s position.
The most recent analyst rating on (HK:3318) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Boton Group Co., Ltd. stock, see the HK:3318 Stock Forecast page.
More about China Boton Group Co., Ltd.
China Boton Group Company Limited is a Hong Kong-listed company incorporated in the Cayman Islands. Through its subsidiary Shenzhen Boton, it holds land-use interests in Shenzhen and engages with local government authorities on land-related arrangements, reflecting its exposure to China’s property and urban redevelopment activities.
Average Trading Volume: 382,907
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.89B
For a thorough assessment of 3318 stock, go to TipRanks’ Stock Analysis page.