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Coastal Greenland Limited ( (HK:1124) ) has issued an update.
Coastal Greenland Limited has provided a monthly update on a potential change of control transaction involving the sale of 153,126,197 shares and a related shareholder loan, which could trigger a mandatory conditional cash offer to other shareholders. The company said negotiations between the existing vendor and the potential offeror remain ongoing, but have been halted during the blackout period tied to the publication of its annual results for the year ended 31 March 2026, and will only resume once the blackout ends in late June.
No formal or legally binding agreement has yet been signed for the proposed sale and purchase, and the transaction remains subject to further negotiation and execution of a definitive contract. The board emphasized there is no assurance the deal will proceed or lead to a general offer, and pledged to continue issuing monthly updates under the Takeovers Code while urging shareholders and potential investors to exercise caution when dealing in the company’s securities.
More about Coastal Greenland Limited
Coastal Greenland Limited is a Bermuda-incorporated company listed in Hong Kong under stock code 1124, operating in the property development sector with a focus on real estate projects in mainland China. The group has historically been involved in residential and commercial property development, positioning itself as a mid-sized player in the Chinese real estate market with exposure to cyclical sector risks and capital market conditions.
Average Trading Volume: 276,581
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$77.53M
Find detailed analytics on 1124 stock on TipRanks’ Stock Analysis page.