Cogobuy Group Increases Stake in Comtech to 72.42%

Cogobuy Group (HK:0400) has released an update.

Cogobuy Group has announced its decision to exercise a redemption right, leading to the repurchase of approximately 5.58% interest in Comtech for around RMB210.6 million. This move, financed through internal resources, will increase Cogobuy’s stake in Comtech from 66.84% to 72.42%, ensuring it remains a non-wholly owned subsidiary. Investors in the financial markets may find this strategic consolidation a significant move towards strengthening Cogobuy’s market position.

For further insights into HK:0400 stock, check out TipRanks’ Stock Analysis page.