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China Merchants Land Limited ( (HK:0978) ) just unveiled an announcement.
China Merchants Land Limited, through its subsidiary Nanjing Zhaoping, has entered into an Equity Transfer Agreement with CITIC Securities to acquire 100% equity interests in a Project Company. This transaction, valued at RMB259,236,960.10, is considered a discloseable transaction under the Hong Kong Listing Rules, as it exceeds 5% but is less than 25% of the applicable percentage ratios. The acquisition is part of a distribution in specie under an Asset-Backed Securities (ABS) Scheme, which was due to expire in April 2025. This move is expected to impact the company’s operations by expanding its asset base and potentially enhancing its market position.
The most recent analyst rating on (HK:0978) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on China Merchants Land Limited stock, see the HK:0978 Stock Forecast page.
More about China Merchants Land Limited
China Merchants Land Limited is a company incorporated in the Cayman Islands, operating in the real estate sector. It focuses on property development and investment, primarily in China, and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 1,029,069
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.4B
For detailed information about 0978 stock, go to TipRanks’ Stock Analysis page.