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Pinestone Capital Ltd ( (HK:0804) ) has provided an announcement.
Pinestone Capital Ltd, incorporated in the Cayman Islands, has announced a major transaction involving the acquisition of a target company. The acquisition, valued at HK$40 million, will be satisfied through the issuance of 13,986,014 new shares, which will represent approximately 22.96% of the company’s enlarged share capital. This acquisition will result in the target company becoming a wholly-owned subsidiary, with its financial results consolidated into Pinestone Capital’s financial statements. The transaction is subject to shareholder approval and compliance with Hong Kong’s listing rules, and an extraordinary general meeting will be convened for this purpose.
More about Pinestone Capital Ltd
Average Trading Volume: 109,581
Technical Sentiment Signal: Hold
Current Market Cap: HK$169.3M
Learn more about 0804 stock on TipRanks’ Stock Analysis page.