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An update from Evergrande Property Services Group Ltd. ( (HK:6666) ) is now available.
Evergrande Property Services Group has disclosed that China Evergrande Group and CEG Holdings, which collectively hold just over 51% of its shares, have signed an exclusivity agreement with a selected bidder to negotiate a potential sale of their controlling stake. The parties are in exclusive talks for 30 business days to settle terms of a formal sale and purchase agreement, though no binding deal has yet been reached.
The company will issue monthly updates under Hong Kong’s Takeovers Code until a firm offer is announced or the parties decide not to proceed, keeping investors informed amid ongoing uncertainty over control of the business. The announcement also reiterates the current share capital and reminds major shareholders and other associates of their duty to disclose dealings in the company’s securities in line with takeover rules.
More about Evergrande Property Services Group Ltd.
Evergrande Property Services Group Ltd. is a Hong Kong-listed property management company incorporated in the Cayman Islands. It primarily provides property management and related value-added services to residential and commercial projects, serving property owners and developers within the broader China real estate sector.
Average Trading Volume: 20,684,406
Technical Sentiment Signal: Buy
Current Market Cap: HK$12.32B
Find detailed analytics on 6666 stock on TipRanks’ Stock Analysis page.