Cybernaut International Announces Major Acquisition to Expand Subsidiary Holdings

The latest update is out from Cybernaut International Holdings Company Limited ( (HK:1020) ).

Cybernaut International Holdings Company Limited announced its major transaction involving the acquisition of 100% of the issued shares in a target company. This acquisition, valued at HK$120,533,400, will be completed by its wholly-owned subsidiary and will result in the target company becoming an indirect wholly-owned subsidiary of Cybernaut. Upon completion, the target company’s financial results will be consolidated into Cybernaut’s financial statements, potentially enhancing its market position. Shareholders’ approval is being sought for the issuance of consideration shares, which will facilitate the transaction under a specific mandate.

More about Cybernaut International Holdings Company Limited

Cybernaut International Holdings Company Limited is incorporated in the Cayman Islands and operates in the investment and acquisition sector. The company focuses on strategic transactions to expand its portfolio and market presence, primarily through the acquisition of shares in other companies.

YTD Price Performance: 24.29%

Average Trading Volume: 5,025,118

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$355.1M

For an in-depth examination of 1020 stock, go to TipRanks’ Stock Analysis page.