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China Zhengtong Auto Services Concludes Share Acquisition Offer by Xinda Motors

Story Highlights
  • China Zhengtong Auto Services operates in the automotive industry, focusing on sales and services.
  • Xinda Motors’ acquisition offer closed, securing 15.71% of shares, altering company ownership.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
China Zhengtong Auto Services Concludes Share Acquisition Offer by Xinda Motors

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The latest announcement is out from China Zhengtong Auto Services Holdings ( (HK:1728) ).

China Zhengtong Auto Services Holdings Limited announced the conclusion of an unconditional mandatory cash offer by Xinda Motors Co., Limited to acquire all issued shares not already owned by Xinda Motors. The offer closed with valid acceptances for approximately 15.71% of the company’s total issued share capital, resulting in a cash consideration of HK$235,976,779.20. Following the offer, Xinda Motors and its concert parties now hold approximately 75% of the company’s shares, significantly altering the shareholding structure and potentially impacting the company’s market positioning and stakeholder interests.

More about China Zhengtong Auto Services Holdings

China Zhengtong Auto Services Holdings Limited operates in the automotive industry, focusing on providing a range of services related to automobile sales and after-sales services. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.

YTD Price Performance: 108.57%

Average Trading Volume: 10,355,166

Technical Sentiment Signal: Sell

Current Market Cap: HK$1.46B

For a thorough assessment of 1728 stock, go to TipRanks’ Stock Analysis page.

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