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Pacific Century Premium Developments Limited ( (HK:0432) ) has provided an announcement.
Pacific Century Premium Developments Limited has agreed to sell its entire interest in the company that owns and operates Midtown Niseko, a hospitality asset in Japan, for US$80 million, including shareholder loans. Upon completion, the Niseko business will be deconsolidated from the group’s financial statements, marking an exit from this particular Japanese resort asset.
The disposal qualifies as a very substantial disposal under Hong Kong listing rules, triggering reporting, announcement and shareholder approval requirements. A special general meeting will be convened to seek shareholder approval, and while no shareholders are currently required to abstain from voting, the company has cautioned investors that completion remains conditional and may not proceed.
The most recent analyst rating on (HK:0432) stock is a Hold with a HK$0.19 price target. To see the full list of analyst forecasts on Pacific Century Premium Developments Limited stock, see the HK:0432 Stock Forecast page.
More about Pacific Century Premium Developments Limited
Pacific Century Premium Developments Limited is a Hong Kong-listed property developer focused on premium real estate and hospitality projects in Asia. The group owns and operates mixed-use and resort-style properties, including hotels and leisure facilities, with a strategy centered on destination developments and upscale tourism markets such as Japan.
Average Trading Volume: 329,128
Technical Sentiment Signal: Hold
Current Market Cap: HK$419.9M
Find detailed analytics on 0432 stock on TipRanks’ Stock Analysis page.