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An announcement from Powerlong Real Estate Holdings Ltd. ( (HK:1238) ) is now available.
Powerlong Real Estate Holdings Limited has agreed to dispose of its shares in subsidiary Powerlong CM for a total consideration of HK$360.8 million, under a sale and purchase agreement signed on 27 January 2026. The transaction is classified as both a major and connected transaction under Hong Kong listing rules because the buyer is controlled by relatives of the company’s executive and non-executive directors, triggering requirements for independent shareholder approval, an independent board committee, and an independent financial adviser, with controlling family shareholders abstaining from voting at the forthcoming extraordinary general meeting.
The most recent analyst rating on (HK:1238) stock is a Hold with a HK$0.27 price target. To see the full list of analyst forecasts on Powerlong Real Estate Holdings Ltd. stock, see the HK:1238 Stock Forecast page.
More about Powerlong Real Estate Holdings Ltd.
Powerlong Real Estate Holdings Limited is a Cayman Islands–incorporated property developer listed in Hong Kong, operating in the real estate sector. The group is involved in property-related businesses and oversees various subsidiaries, including Powerlong CM, in which it currently holds shares that are now proposed to be disposed of.
Average Trading Volume: 897,247
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.1B
Learn more about 1238 stock on TipRanks’ Stock Analysis page.