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An announcement from Guoco Group ( (HK:0053) ) is now available.
Guoco Group has announced that GLL (Malaysia) Pte. Ltd., a wholly owned subsidiary of its 67%-owned unit GuocoLand Limited, has submitted a formal proposal to privatise GuocoLand (Malaysia) Berhad via a selective capital reduction and repayment exercise under Malaysian company law. Under the plan, all shareholders of GuocoLand (Malaysia) other than GLL (Malaysia) would receive a cash capital repayment in exchange for the cancellation of their shares, resulting in GLL (Malaysia) becoming the sole shareholder, GuocoLand (Malaysia) becoming an indirect wholly owned subsidiary of GuocoLand, and its delisting from Bursa Malaysia Securities; Guoco Group said the proposed transaction, which remains subject to conditions and may or may not proceed, is not a notifiable transaction under Hong Kong listing rules and is not expected to have a material impact on its net capital, liquidity or other key financial indicators.
The most recent analyst rating on (HK:0053) stock is a Buy with a HK$82.00 price target. To see the full list of analyst forecasts on Guoco Group stock, see the HK:0053 Stock Forecast page.
More about Guoco Group
Guoco Group Limited is a Hong Kong-listed investment holding company with diversified interests including property development and investment, principally conducted through its 67%-owned Singapore-listed subsidiary GuocoLand Limited. Through GuocoLand, the group has significant real estate operations in Malaysia via GuocoLand (Malaysia) Berhad, whose financial results are consolidated into Guoco Group’s accounts.
Average Trading Volume: 19,512
Technical Sentiment Signal: Buy
Current Market Cap: HK$23.2B
For a thorough assessment of 0053 stock, go to TipRanks’ Stock Analysis page.