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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.