Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An announcement from Eminence Enterprise Limited ( (HK:0616) ) is now available.
Eminence Enterprise Limited has signed a non-legally binding memorandum of understanding to subscribe for shares in a Cayman Islands-incorporated joint venture that will focus on developing and investing in stablecoin and other blockchain-related businesses across ASEAN, alongside other potential investors including a subsidiary of NASDAQ-listed Futu Holdings Limited. The group plans to invest up to US$420,000 for no more than a 10% stake in the joint venture, viewing the rapid growth and increasing transaction volumes of stablecoins as a substantial strategic opportunity, while stressing that the arrangement remains indicative and may become a notifiable transaction subject to further disclosures under Hong Kong listing rules if it proceeds.
The most recent analyst rating on (HK:0616) stock is a Hold with a HK$0.38 price target. To see the full list of analyst forecasts on Eminence Enterprise Limited stock, see the HK:0616 Stock Forecast page.
More about Eminence Enterprise Limited
Eminence Enterprise Limited, incorporated in Bermuda and listed in Hong Kong, operates through a group structure and is seeking to expand into digital asset-related activities, particularly within the stablecoin and blockchain sectors in the ASEAN region.
Average Trading Volume: 10,038,178
Technical Sentiment Signal: Hold
Current Market Cap: HK$614.8M
For a thorough assessment of 0616 stock, go to TipRanks’ Stock Analysis page.