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China Zhengtong Auto Services Holdings ( (HK:1728) ) has provided an update.
China Zhengtong Auto Services Holdings Limited announced that Xinda Motors Co., Limited has waived a condition precedent related to a Whitewash Waiver under their Subscription Agreement, allowing the Connected Subscription Completion to proceed. This development will result in Xinda Motors and its concert parties increasing their shareholding to a maximum of 75% of the company’s shares. Consequently, a mandatory general offer for all remaining shares will be made, impacting the company’s ownership structure significantly.
More about China Zhengtong Auto Services Holdings
China Zhengtong Auto Services Holdings Limited operates in the automotive services industry, focusing on the sale and servicing of automobiles. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 3,017,719
Technical Sentiment Signal: Sell
Current Market Cap: HK$392.7M
Learn more about 1728 stock on TipRanks’ Stock Analysis page.
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