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Coastal Greenland Limited ( (HK:1124) ) just unveiled an announcement.
Coastal Greenland Limited has issued a monthly update on a potential change of control transaction involving the possible sale of 153,126,197 shares and an associated shareholder loan by a major vendor to a prospective offeror. The parties remain in negotiations over a formal sale and purchase agreement, and no binding contract has yet been signed.
The company stated that the deal, if concluded, could trigger a mandatory conditional cash offer for all shares under Hong Kong’s Takeovers Code, but stressed there is no certainty the transaction will proceed or lead to a general offer. Investors are being cautioned to act prudently while the company continues to publish monthly updates until a firm decision is reached on whether an offer will be made.
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
YTD Price Performance: -29.27%
Average Trading Volume: 879,553
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$72.14M
See more insights into 1124 stock on TipRanks’ Stock Analysis page.