New Hope Service Boosts Stake to 96.5% in Key Subsidiary via Connected Deal

New Hope Service Holdings Limited ( (HK:3658) ) has issued an announcement.

New Hope Service Holdings Limited has agreed, through an indirect wholly owned subsidiary, to acquire an additional 45.5% equity interest in a non-wholly owned subsidiary for RMB74.85 million. Following completion, the group’s stake in the target company will rise to 96.5% through the purchaser and Chengdu Xingfan, significantly increasing its control over the entity.

Because the seller is a substantial shareholder in the target and thus a connected person at the subsidiary level, the deal is classified both as a discloseable and connected transaction under Hong Kong listing rules. The board, including independent non-executive directors, has endorsed the terms as fair and on normal commercial terms or better, allowing the transaction to proceed with reporting and announcement obligations but without requiring shareholder approval or an independent circular.

The most recent analyst rating on (HK:3658) stock is a Buy with a HK$2.50 price target. To see the full list of analyst forecasts on New Hope Service Holdings Limited stock, see the HK:3658 Stock Forecast page.

More about New Hope Service Holdings Limited

New Hope Service Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating through subsidiaries in property-related or service-oriented businesses. It manages its operations via wholly owned and non-wholly owned units, using equity acquisitions to consolidate control over key subsidiaries and align interests with major shareholders.

Average Trading Volume: 206,456

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$1.62B

For detailed information about 3658 stock, go to TipRanks’ Stock Analysis page.