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EC Healthcare ( (HK:2138) ) has shared an announcement.
EC Healthcare has moved to increase its stake in a non-wholly owned medical subsidiary, referred to as the Target Company, by acquiring an additional 14.6313% interest for HK$21 million through an indirect wholly owned subsidiary. The consideration is being fully settled via set-off against part of a HK$28.13 million settlement fee owed by departing doctors, allowing the group to avoid any cash outflow while facilitating the doctors’ orderly exit from their indirect equity interests. Following completion, which is due within 21 days, the Target Company will remain a non-wholly owned subsidiary whose results continue to be consolidated, while the deal is classified as a connected transaction under Hong Kong’s Listing Rules but benefits from exemptions from circular, independent financial advice and shareholder approval requirements due to its size and terms.
The most recent analyst rating on (HK:2138) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on EC Healthcare stock, see the HK:2138 Stock Forecast page.
More about EC Healthcare
EC Healthcare, incorporated in the Cayman Islands and listed in Hong Kong, operates as a healthcare services group that manages medical businesses through various subsidiaries, including non-wholly owned units in which it holds majority stakes.
Average Trading Volume: 339,126
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$687.4M
See more insights into 2138 stock on TipRanks’ Stock Analysis page.