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Hengxin Technology Ltd. ( (HK:1085) ) just unveiled an announcement.
Hengxin Technology Ltd. has entered into a supplemental agreement with the purchaser and Jiangsu Hengxin to amend the payment terms for the planned disposal of a 39% equity interest in a target company, a transaction classified as both a major and connected transaction. Under the revised arrangement, the purchaser will make a refundable prepayment of RMB350 million, equal to 70% of the consideration, within 15 business days, which will be applied to the first tranche of the consideration once independent shareholders approve the deal. If shareholder approval is not obtained within 30 days of signing the supplemental agreement, both the original equity transfer agreement and the supplemental agreement will terminate, and Hengxin will return the prepayment in full without interest, while the company has also agreed to waive any liability for the purchaser’s earlier delay in paying the first tranche. All other terms of the original equity transfer agreement remain unchanged, and the company has cautioned shareholders and potential investors that completion of the disposal remains subject to several conditions and may not proceed.
The most recent analyst rating on (HK:1085) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Hengxin Technology Ltd. stock, see the HK:1085 Stock Forecast page.
More about Hengxin Technology Ltd.
Hengxin Technology Ltd., incorporated in Singapore and listed in Hong Kong, operates in the technology and telecommunications-related sector, with its business conducted in Hong Kong under the name HX Singapore Ltd. The company is governed by a board comprising executive, non-executive and independent non-executive directors, reflecting a typical listed-company governance structure aimed at overseeing its investment and corporate transactions.
Average Trading Volume: 213,195
Technical Sentiment Signal: Sell
Current Market Cap: HK$586.7M
For an in-depth examination of 1085 stock, go to TipRanks’ Overview page.