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Hong Leong Asia ( (SG:H22) ) just unveiled an announcement.
Hong Leong Asia has announced that Guangxi Yuchai Marine and Genset Power Co., Ltd. (MGP), an indirect and principal subsidiary held through China Yuchai International, has submitted an application for a listing of its shares on the Mainboard of the Hong Kong Stock Exchange as part of a proposed spin-off. The company has received an indication from the Singapore Exchange that it has no comments on the proposed spin-off, and does not expect to require shareholder approval for the transaction, although the deal remains subject to regulatory clearances and market conditions, with no assurance it will proceed, and further updates to be provided as material developments arise.
The most recent analyst rating on (SG:H22) stock is a Hold with a S$3.00 price target. To see the full list of analyst forecasts on Hong Leong Asia stock, see the SG:H22 Stock Forecast page.
More about Hong Leong Asia
Hong Leong Asia Ltd., incorporated in Singapore, operates as an investment holding company with interests in industrial and manufacturing businesses, including its stake in China Yuchai International, a major engine manufacturer with operations in China and related marine and power-generation segments.
Average Trading Volume: 1,182,017
Technical Sentiment Signal: Buy
Current Market Cap: S$2.23B
Find detailed analytics on H22 stock on TipRanks’ Stock Analysis page.