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China Shengmu Organic Milk Ltd ( (HK:1432) ) has issued an announcement.
China Modern Dairy has issued a joint monthly update with China Shengmu Organic Milk on a possible mandatory conditional cash offer to acquire all issued shares of China Shengmu not already owned or agreed to be acquired by China Modern Dairy and Start Great. The offer, to be made via CLSA on behalf of China Modern Dairy, remains contingent on completion of share purchase agreements and satisfaction or waiver of specified conditions precedent, with only independent shareholder approval at China Modern Dairy’s EGM confirmed so far.
The companies noted that, aside from two outstanding conditions under the share purchase agreements, no other conditions precedent have been satisfied or waived, and the share purchase completion may or may not occur. Further announcements will be made in line with Hong Kong listing and takeover rules, leaving shareholders and potential investors facing continued uncertainty over whether the transaction, and the associated consolidation of China Shengmu under China Modern Dairy, will ultimately proceed.
The most recent analyst rating on (HK:1432) stock is a Hold with a HK$0.41 price target. To see the full list of analyst forecasts on China Shengmu Organic Milk Ltd stock, see the HK:1432 Stock Forecast page.
More about China Shengmu Organic Milk Ltd
China Modern Dairy Holdings Ltd and China Shengmu Organic Milk Limited are Cayman Islands-incorporated dairy companies listed in Hong Kong, focused on the production and sale of dairy products, including organic milk in the case of China Shengmu. Their operations place them within China’s broader dairy and consumer staples sector, where consolidation and strategic share acquisitions are common for scaling and competitive positioning.
Average Trading Volume: 13,783,928
Technical Sentiment Signal: Buy
Current Market Cap: HK$2.98B
Learn more about 1432 stock on TipRanks’ Stock Analysis page.