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China Overseas Property Holdings ( (HK:2669) ) has shared an announcement.
China Overseas Property Holdings will inject a total of RMB39 million into China Construction Property Management Co., Ltd. via three indirect wholly owned subsidiaries, Beijing Zhonghai, China Overseas Hongyang and China Overseas Haihui, with RMB37.8 million allocated to registered capital and RMB1.2 million to capital reserves, after CSCEC unit CSCAM waived its pre-emptive rights. Following completion, these subsidiaries will collectively hold 70% of the enlarged equity in the target, which will become a consolidated subsidiary of China Overseas Property, potentially strengthening the group’s control over property management operations within the CSCEC ecosystem and modestly enhancing its scale and financial consolidation without triggering the need for independent shareholder approval under Hong Kong’s connected transaction rules.
The most recent analyst rating on (HK:2669) stock is a Sell with a HK$5.00 price target. To see the full list of analyst forecasts on China Overseas Property Holdings stock, see the HK:2669 Stock Forecast page.
More about China Overseas Property Holdings
China Overseas Property Holdings Limited is a Hong Kong-listed property management company under state-owned construction giant China State Construction Engineering Corporation (CSCEC). Through its various subsidiaries, the group focuses on providing property management and related services, and is expanding its footprint and operational scale within China’s property services sector.
Average Trading Volume: 6,846,130
Technical Sentiment Signal: Sell
Current Market Cap: HK$15.2B
See more insights into 2669 stock on TipRanks’ Stock Analysis page.