Cinese International Updates on Disposal of Wholly Owned Subsidiary

Cinese International Group Holdings Limited ( (HK:1620) ) has shared an announcement.

Cinese International Group Holdings Limited has provided an update on a major transaction involving the disposal of the entire equity interest in a wholly owned subsidiary. The deal includes a retained amount of the purchase price, which the buyer will pay 181 days after closing, subject to agreement on any indemnity claims and price adjustments.

The company and the purchaser have yet to finalise the sums, leaving part of the consideration unsettled and the ultimate financial impact of the disposal still uncertain. Cinese is now assessing the situation and consulting local and overseas professional advisers, and has indicated it will issue further announcements as required under Hong Kong listing rules.

The most recent analyst rating on (HK:1620) stock is a Sell with a HK$0.08 price target. To see the full list of analyst forecasts on Cinese International Group Holdings Limited stock, see the HK:1620 Stock Forecast page.

More about Cinese International Group Holdings Limited

Cinese International Group Holdings Limited is incorporated in Ontario, Canada and continued in the Cayman Islands with limited liability, and its shares are listed on the Stock Exchange of Hong Kong under stock code 1620. The company is overseen by a board comprising executive and independent non-executive directors, reflecting a typical listed corporate governance structure.

Average Trading Volume: 842,978

Technical Sentiment Signal: Buy

Current Market Cap: HK$115.2M

Learn more about 1620 stock on TipRanks’ Stock Analysis page.