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China Zhengtong Auto Services Holdings ( (HK:1728) ) has provided an announcement.
China Zhengtong Auto Services Holdings Limited has announced an extraordinary general meeting to approve a subscription agreement with Xinda Motors Co., Limited. The agreement involves the issuance of over 6.6 billion new shares at HK$0.15 per share, aimed at raising capital for the company. Additionally, a special resolution seeks to obtain a Whitewash Waiver, which would exempt the subscriber from making a mandatory general offer for all issued shares, potentially impacting the company’s shareholder structure and market positioning.
More about China Zhengtong Auto Services Holdings
China Zhengtong Auto Services Holdings Limited operates in the automotive services industry, focusing on providing comprehensive auto-related services. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
Technical Sentiment Signal: Buy
Current Market Cap: $43.7M
See more insights into 1728 stock on TipRanks’ Stock Analysis page.