Midland Holdings Initiates New Cross Referral Agreement Amid Strong Business Performance

Midland Holdings Limited ( (HK:1200) ) just unveiled an announcement.

Midland Holdings Limited has announced the termination of its 2023 Cross Referral Services Framework Agreement with Legend Upstar and the initiation of a new agreement for 2025-2027. This decision is driven by the stronger-than-expected performance of its estate agency business, necessitating higher annual caps for referral fees. The new agreement will allow continued cross-referral transactions between the two groups, subject to compliance with Hong Kong’s Listing Rules. The transactions will require approval from independent shareholders, and an Independent Board Committee has been set up to provide guidance, with Rainbow Capital (HK) Limited appointed as the Independent Financial Adviser.

More about Midland Holdings Limited

Midland Holdings Limited operates in the real estate industry, primarily focusing on estate agency services. The company is involved in facilitating property transactions and has a market focus on real estate brokerage and related services.

Average Trading Volume: 2,497,068

Technical Sentiment Signal: Buy

Current Market Cap: HK$745.6M

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