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Legend Holdings Corporation Class H ( (HK:3396) ) has issued an update.
Legend Holdings Corporation has agreed to sell its entire 11.29% stake in a Shanghai Stock Exchange-listed target company to China Logistics Capital for a total cash consideration of about RMB2.72 billion, priced at RMB15.156 per share. The consideration was set with reference to the target’s market price, prevailing conditions and past financial performance, and upon completion Legend Holdings will no longer hold any shares in the target.
The disposal qualifies as a disclosable transaction under Hong Kong listing rules, triggering reporting and announcement requirements but not shareholder approval, underscoring the deal’s material yet mid-sized nature in the group’s portfolio. The move streamlines Legend Holdings’ holdings in the target company, potentially freeing capital for redeployment into other investments while bringing in an independent logistics-focused buyer that is not connected to the group.
The most recent analyst rating on (HK:3396) stock is a Sell with a HK$8.00 price target. To see the full list of analyst forecasts on Legend Holdings Corporation Class H stock, see the HK:3396 Stock Forecast page.
More about Legend Holdings Corporation Class H
Legend Holdings Corporation is a diversified investment holding company incorporated in the People’s Republic of China and listed in Hong Kong. The group typically invests in and manages a portfolio of businesses across sectors, focusing on long-term value creation through strategic equity holdings and capital allocation.
Average Trading Volume: 3,763,935
Technical Sentiment Signal: Sell
Current Market Cap: HK$19.91B
Find detailed analytics on 3396 stock on TipRanks’ Stock Analysis page.