Colour Life to Cease Being Fantasia Subsidiary Under Conditional Share Restructuring

An announcement from Colour Life Services Group Co ( (HK:1778) ) is now available.

Colour Life Services Group Co. has disclosed that Fantasia Holdings Group, its current controlling shareholder, has entered into a restructuring agreement with TFISF and Splendid Fortune Enterprise Limited involving Fantasia’s entire 41.95% stake in the company. Under the conditional deal, Splendid Fortune will acquire about 21.97% of Colour Life’s issued shares, an entity designated by TFISF will receive around 10.00% as enforcement of purported security, and Fantasia will retain roughly 9.98% free of any claims, resulting in Colour Life ceasing to be a subsidiary of Fantasia if the transactions complete. Completion is subject to multiple conditions, including Fantasia’s shareholder approval at an extraordinary general meeting, and the company cautioned that the restructuring may or may not proceed, advising investors to exercise care when trading its securities while it continues to provide updates on material developments.

The most recent analyst rating on (HK:1778) stock is a Hold with a HK$0.17 price target. To see the full list of analyst forecasts on Colour Life Services Group Co stock, see the HK:1778 Stock Forecast page.

More about Colour Life Services Group Co

Colour Life Services Group Co., Limited is a Hong Kong-listed company (stock code: 1778) incorporated in the Cayman Islands, operating in the property services/management sector. The group provides community and property-related services and is part of a broader ecosystem historically controlled by Fantasia Holdings Group Co., Limited, a PRC property developer and service provider.

Average Trading Volume: 1,580,505

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$316.1M

For an in-depth examination of 1778 stock, go to TipRanks’ Overview page.