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LFG Investment Holdings Limited ( (HK:3938) ) has shared an update.
LFG Investment Holdings Limited has disclosed that its controlling shareholder has entered into a conditional share purchase agreement with Fortune Origin International Capital (Holdings) Limited to sell 299,492,188 shares, representing about 61.43% of LFG’s issued share capital, for a total consideration of HK$179.7 million, or HK$0.60 per share. The transaction, partly paid in cash and partly via a promissory note, will, upon completion and satisfaction or waiver of conditions precedent, result in Fortune Origin becoming LFG’s majority shareholder and trigger mandatory unconditional cash offers for all remaining shares and for the cancellation of all outstanding share options, potentially reshaping LFG’s ownership structure and governance and affecting minority shareholders and option holders through an exit opportunity at the agreed offer price.
The most recent analyst rating on (HK:3938) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on LFG Investment Holdings Limited stock, see the HK:3938 Stock Forecast page.
More about LFG Investment Holdings Limited
LFG Investment Holdings Limited, listed in Hong Kong, operates in the financial services sector, providing capital markets and related investment services. The group’s valuation and transaction terms in this deal reflect its business performance, financial position and the historical liquidity and trading behavior of its shares on the Hong Kong market.
Average Trading Volume: 716,284
Technical Sentiment Signal: Buy
Current Market Cap: HK$721.6M
Find detailed analytics on 3938 stock on TipRanks’ Stock Analysis page.