Coastal Greenland Says Takeover Talks Ongoing, No Binding Deal Yet

The latest announcement is out from Coastal Greenland Limited ( (HK:1124) ).

Coastal Greenland Limited has provided a monthly update on a potential change of control transaction involving the proposed sale of 153,126,197 shares and a related shareholder loan. The company said the vendor and a potential offeror remain in negotiations over final terms, and no formal or legally binding sale and purchase agreement has yet been executed.

The board stressed that there is no certainty the talks will result in a mandatory conditional cash offer and that the possible transaction may or may not proceed. Coastal Greenland will continue to issue monthly updates under Hong Kong’s Takeovers Code until a firm intention to make an offer is announced or a decision is taken not to proceed, and urged shareholders and potential investors to exercise caution when dealing in its securities.

The most recent analyst rating on (HK:1124) stock is a Sell with a HK$0.16 price target. To see the full list of analyst forecasts on Coastal Greenland Limited stock, see the HK:1124 Stock Forecast page.

More about Coastal Greenland Limited

Coastal Greenland Limited is a Bermuda-incorporated company listed in Hong Kong, operating in the property development and real estate sector. The group focuses on mainland China projects and serves investors and homeowners exposed to the Chinese property market.

YTD Price Performance: -21.54%

Average Trading Volume: 707,299

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$80.02M

For a thorough assessment of 1124 stock, go to TipRanks’ Stock Analysis page.