FIT Hon Teng to Exit Origin Wireless Stake in US$21.97 Million Sale to ADT

An update from FIT Hon Teng Limited ( (HK:6088) ) is now available.

FIT Hon Teng Limited has agreed to sell its entire stake in Origin Wireless, Inc. to ADT Inc., an independent third party, through a conditional transaction involving 1,250,000 Series A Preferred shares at US$2.83 each and 2,261,905 Series B-1 Preferred shares at US$7.03 each. The deal, capped at US$21.97 million including up to US$2.55 million in escrow, is expected to generate up to US$9.7 million in other comprehensive income before tax and expenses, will leave FIT Hon Teng with no remaining shareholding in Origin Wireless, and is classified as a non-notifiable transaction under Hong Kong listing rules, prompting the company to urge investors to exercise caution when trading its securities.

The most recent analyst rating on (HK:6088) stock is a Buy with a HK$7.42 price target. To see the full list of analyst forecasts on FIT Hon Teng Limited stock, see the HK:6088 Stock Forecast page.

More about FIT Hon Teng Limited

FIT Hon Teng Limited, incorporated in the Cayman Islands and carrying on business in Hong Kong, is part of the Foxconn group and operates in the electronics and interconnect solutions sector. The company focuses on designing and manufacturing connectivity components and related technologies for a range of consumer, industrial and communications applications worldwide.

Average Trading Volume: 65,307,011

Technical Sentiment Signal: Buy

Current Market Cap: HK$51.87B

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