Dongfeng Motor Group Edges Closer to Hong Kong Delisting as Key Merger Condition Met

Dongfeng Motor Group Co ( (HK:0489) ) has provided an announcement.

Dongfeng Motor Corporation, together with its Wuhan-based investment arm, has moved a step closer to taking Dongfeng Motor Group Company Limited private via a merger by absorption, and to distributing shares of its electric vehicle affiliate VOYAH to existing shareholders. The companies announced that one of the key merger pre-conditions tied to regulatory and shareholder approvals for the VOYAH share distribution and the proposed listing of VOYAH by introduction has been fulfilled, marking tangible progress toward the planned privatisation and the eventual withdrawal of Dongfeng Motor Group’s listing in Hong Kong, a move that could reshape its capital structure and sharpen its strategic focus on VOYAH and other core operations.

The most recent analyst rating on (HK:0489) stock is a Hold with a HK$10.00 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 leading Chinese automotive manufacturer based in the People’s Republic of China, engaged in the production and sale of motor vehicles and related components. The group operates within China’s large state-linked automotive sector and has exposure to both traditional internal combustion vehicles and new energy vehicles through subsidiaries such as VOYAH, positioning it as a key player in the domestic and increasingly international auto market.

Average Trading Volume: 16,708,542

Technical Sentiment Signal: Buy

Current Market Cap: HK$71.55B

For an in-depth examination of 0489 stock, go to TipRanks’ Overview page.