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An announcement from China Hanking Holdings Ltd. ( (HK:3788) ) is now available.
Hanking Gold International Limited has agreed to acquire the remaining 9.56% of Hanking Gold Limited that it does not already own, lifting its stake to 100% and securing full control over its high-value Australian gold business. The transaction will consolidate ownership of 5.54 million ounces of gold resources and 2.62 million ounces of gold reserves, bolstering the company’s scale and ambition to become a mid-tier gold producer.
The HK$814.6 million consideration will be settled entirely through the issuance of 203,647,733 new shares at HK$4.0 each, equivalent to about 9.09% of the current share capital and 8.33% on an enlarged basis. The deal, classified as both a discloseable and connected transaction under Hong Kong listing rules due to the involvement of entities linked to current and former directors, requires a specific mandate and independent shareholder approval for the new share issuance.
The most recent analyst rating on (HK:3788) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on China Hanking Holdings Ltd. stock, see the HK:3788 Stock Forecast page.
More about China Hanking Holdings Ltd.
Hanking Gold International Limited is a Hong Kong-listed mining company focused on high-value gold assets. Its primary operations center on Australian gold resources and reserves, positioning the group to grow into a mid-tier gold producer in the regional and international precious metals market.
Average Trading Volume: 9,442,965
Technical Sentiment Signal: Buy
Current Market Cap: HK$8.36B
For detailed information about 3788 stock, go to TipRanks’ Stock Analysis page.