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Meta Media Holdings Limited ( (HK:0072) ) has shared an update.
Meta Media Holdings Limited has agreed, via its wholly owned subsidiary e-Starship Limited, to acquire an additional 3% stake in Modern Digital Holdings Limited from Hong Kong Septwolves Invest-Holding Limited for an initial cash consideration of RMB11.6 million. The deal will raise Meta Media’s interest in Modern Digital from about 77% to 80%, further consolidating its control over the digital media subsidiary, though Targetco’s results are already fully consolidated in the group’s financial statements. As the vendor is a substantial shareholder of a non-wholly owned subsidiary, the transaction is classified as both a discloseable and connected transaction under Hong Kong Listing Rules, requiring reporting and announcement but exempt from circular, independent financial advice and shareholder approval, with completion still subject to conditions in the sale and purchase agreement.
The most recent analyst rating on (HK:0072) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Meta Media Holdings Limited stock, see the HK:0072 Stock Forecast page.
More about Meta Media Holdings Limited
Meta Media Holdings Limited is a Hong Kong-listed company engaged in media and digital advertising-related investments, holding controlling stakes in subsidiaries such as Modern Digital Holdings Limited (Targetco). Through these holdings, the group focuses on expanding its presence in digital media and related services in Mainland China and the broader Greater China market.
Average Trading Volume: 62,428
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$96.33M
See more data about 0072 stock on TipRanks’ Stock Analysis page.