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Dongfeng Motor Group Co ( (HK:0489) ) has provided an announcement.
Dongfeng Motor Group Company Limited has announced progress on a proposed conditional privatisation by Dongfeng Motor Group (Wuhan) Investment Company Limited, a subsidiary of Dongfeng Motor Corporation, to be executed through a merger by absorption. The plan also involves distributing shares of electric vehicle unit VOYAH held by Dongfeng Motor Group and subsequently withdrawing the group’s listing from the Hong Kong Stock Exchange.
The companies confirmed that all pre-conditions for the merger have now been fulfilled, including approvals or filings with Chinese government bodies such as the NDRC, MOFCOM, SAFE and the CSRC. Shareholder approvals at VOYAH and in-principle approval from the Hong Kong Stock Exchange for a listing by introduction of VOYAH shares have also been secured, clearing the way for the privatisation, VOYAH share distribution and delisting to proceed, with implications for minority shareholders’ exit terms and the group’s future capital-market presence.
The most recent analyst rating on (HK:0489) stock is a Buy with a HK$11.24 price target. To see the full list of analyst forecasts on Dongfeng Motor Group Co stock, see the HK:0489 Stock Forecast page.
More about Dongfeng Motor Group Co
Dongfeng Motor Group Company Limited is a major Chinese automotive manufacturer based in the People’s Republic of China, operating as part of Dongfeng Motor Corporation. The group focuses on the production and sale of vehicles and related businesses, and its shares are currently listed on the Hong Kong Stock Exchange under stock code 489.
Average Trading Volume: 16,274,283
Technical Sentiment Signal: Buy
Current Market Cap: HK$74.93B
See more data about 0489 stock on TipRanks’ Stock Analysis page.