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An announcement from China Ever Grand Financial Leasing Group Co., Ltd. ( (HK:0379) ) is now available.
China Ever Grand Financial Leasing Group has disclosed that its wholly owned subsidiary, Hong Kong Ever Grand Capital Limited, has signed a memorandum of understanding with Beijing Ever Grand International Finance Lease to explore a possible settlement of their ongoing litigation over a capital injection. As part of the potential settlement, the parties are negotiating the introduction of new investors into Beijing Ever Grand and a proposed sale of the group’s entire 51.39% equity stake in the entity, which is currently booked as an equity investment at fair value through other comprehensive income. If a binding agreement is reached and the disposal completed, all pending lawsuits between the two sides, including Beijing Ever Grand’s claim against Hong Kong Ever Grand and the latter’s application for judicial dissolution of Beijing Ever Grand, would be withdrawn, potentially removing a significant legal overhang for the group; however, the company cautioned that no binding deal has yet been signed and there is no certainty the transaction or litigation settlement will proceed.
The most recent analyst rating on (HK:0379) stock is a Hold with a HK$0.08 price target. To see the full list of analyst forecasts on China Ever Grand Financial Leasing Group Co., Ltd. stock, see the HK:0379 Stock Forecast page.
More about China Ever Grand Financial Leasing Group Co., Ltd.
China Ever Grand Financial Leasing Group Co., Ltd. is a Hong Kong-listed company engaged in financial leasing and related investment activities, with its operations conducted through subsidiaries including Hong Kong Ever Grand Capital Limited and Beijing Ever Grand International Finance Lease Co., Ltd. The group holds equity investments in leasing and finance businesses, some of which are classified as equity investments at fair value through other comprehensive income, reflecting its focus on structured financing and capital management in Greater China.
Average Trading Volume: 1,427,920
Technical Sentiment Signal: Hold
Current Market Cap: HK$126.5M
For an in-depth examination of 0379 stock, go to TipRanks’ Overview page.