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MTT Group Holdings Limited ( (HK:2350) ) has issued an announcement.
MTT Group Holdings Limited has agreed to acquire 100% of Hong Kong Hui Lang Technology Limited from Wisewave Digital Technology Co., Ltd. for HK$87.5 million, settling the deal entirely through the issue of 125 million new shares under its existing general mandate. The transaction, classified as a discloseable transaction under Hong Kong listing rules, does not require separate shareholder approval but remains subject to several conditions precedent, with the company seeking approval for the listing of the new consideration shares; the board views the pricing as fair based on an independent valuation, the target’s contract pipeline and the strategic benefits expected from integrating the target into MTT’s operations.
The most recent analyst rating on (HK:2350) stock is a Hold with a HK$0.73 price target. To see the full list of analyst forecasts on MTT Group Holdings Limited stock, see the HK:2350 Stock Forecast page.
More about MTT Group Holdings Limited
MTT Group Holdings Limited is a company listed on the Hong Kong Stock Exchange that operates through corporate transactions and investments, using its general mandate to issue new shares as consideration in acquisitions to support its business growth and portfolio expansion.
Average Trading Volume: 1,780,000
Technical Sentiment Signal: Buy
Current Market Cap: HK$462.5M
For a thorough assessment of 2350 stock, go to TipRanks’ Stock Analysis page.