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Planetree International Development Limited ( (HK:0613) ) has issued an announcement.
Planetree International Development Limited, through its indirect wholly-owned subsidiary PCL, has entered into a Subscription Agreement with a Subscriber to issue 850 new shares of PCL in exchange for 1,600,000,000 shares of the Subscriber. This transaction, valued at HK$400,000,000, will reduce Planetree’s interest in PCL from 100% to approximately 70.2%, while making Planetree a substantial shareholder in the Subscriber with a 14.8% stake. The transaction is classified as a discloseable transaction under the Listing Rules, requiring reporting and announcement due to the change in ownership percentages.
The most recent analyst rating on (HK:0613) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Planetree International Development Limited stock, see the HK:0613 Stock Forecast page.
More about Planetree International Development Limited
Average Trading Volume: 879,084
Technical Sentiment Signal: Buy
Current Market Cap: HK$2.37B
See more data about 0613 stock on TipRanks’ Stock Analysis page.