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Hollwin Urban Operation Service Group Co., Ltd. Class H ( (HK:2529) ) has provided an announcement.
Hollwin Urban Operation Service Group has agreed to acquire the entire equity interest of an unnamed target company for RMB49.54 million, turning it into a wholly owned subsidiary whose financial results will be consolidated into Hollwin’s accounts. The move expands Hollwin’s corporate structure and could strengthen its operational scale once completed.
Because the seller CSUDGCL is one of Hollwin’s controlling shareholders, the deal is classified in Hong Kong as both a discloseable and connected transaction, triggering additional reporting, circular and independent shareholder approval requirements. An extraordinary shareholders’ meeting will be convened, with an independent board committee and financial adviser appointed to opine on the fairness of the deal, and the company cautions investors that the acquisition may or may not proceed pending satisfaction of conditions.
More about Hollwin Urban Operation Service Group Co., Ltd. Class H
Hollwin Urban Operation Service Group Co., Ltd. is a mainland China-based urban operation service provider listed in Hong Kong, focusing on managing and operating urban-related assets and services. The company targets municipal and commercial projects, and it is ultimately controlled by a group of shareholders that include China Sunrise Urban Development Group Co., Ltd., a key controlling shareholder and transaction counterparty in this deal.
Average Trading Volume: 20,676
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$505.6M
Learn more about 2529 stock on TipRanks’ Stock Analysis page.