Huili Resources (Group) Limited (HK:1303) has released an update.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Huili Resources (Group) Limited has announced the acquisition of a company by purchasing all its issued shares for HK$35,200,000, to be paid through the issuance of 73,333,333 new shares. This strategic move will result in the acquired company becoming an indirect wholly-owned subsidiary, with its financials being consolidated into Huili’s financial statements. The transaction is deemed a disclosable transaction, requiring no shareholder approval but is contingent on certain conditions being met or waived.
For further insights into HK:1303 stock, check out TipRanks’ Stock Analysis page.