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The latest update is out from China International Development Corporation Limited ( (HK:0264) ).
China International Development Corporation Limited has entered into a supplemental agreement with vendor Xu Xichang to extend the exclusivity period of their non-legally binding memorandum of understanding to six months from the original signing date, allowing more time to negotiate a proposed acquisition involving a target group. The company has appointed financial and legal advisers in mainland China and Hong Kong to conduct due diligence on the target’s business, operations, assets, finances and legal matters, and indicated that, if concluded, the deal could constitute a notifiable transaction under Hong Kong listing rules; it cautioned shareholders that no formal agreement has been signed and the transaction may ultimately not proceed, pledging further announcements upon any material developments.
The most recent analyst rating on (HK:0264) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China International Development Corporation Limited stock, see the HK:0264 Stock Forecast page.
More about China International Development Corporation Limited
China International Development Corporation Limited is a Hong Kong-listed company that operates through a group structure, though this announcement does not specify its particular industry segment, products or services. The Group is overseen by a board comprising executive, non-executive and independent non-executive directors, reflecting a typical governance framework for a listed corporation on the Hong Kong Stock Exchange.
Average Trading Volume: 1,301,741
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.01B
See more insights into 0264 stock on TipRanks’ Stock Analysis page.