China Literature Expands Stake in Target Company with Strategic Acquisition

The latest update is out from China Literature ( (HK:0772) ).

China Literature Limited has announced a significant acquisition, where its PRC operating entity, Shanghai Hongwen, has agreed to acquire a 26.67% equity interest in a target company for approximately RMB324.80 million. This acquisition will increase China Literature’s stake in the target company to 31.48%, although the target will not become a subsidiary, and its financials will remain separate. This transaction is classified as a connected transaction under Hong Kong’s Listing Rules due to Tencent’s involvement, a major shareholder in both China Literature and the target company.

The most recent analyst rating on (HK:0772) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Literature stock, see the HK:0772 Stock Forecast page.

More about China Literature

China Literature Limited is a prominent company in the digital literature industry, primarily focusing on online reading and publishing services. The company is known for its extensive library of digital books and web novels, catering to a broad audience in the Chinese-speaking market.

Average Trading Volume: 6,583,846

Technical Sentiment Signal: Sell

Current Market Cap: HK$27.7B

For an in-depth examination of 0772 stock, go to TipRanks’ Stock Analysis page.