Qidian International Co., Ltd. (HK:1280) has released an update.
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Qidian International Co., Ltd. has conditionally agreed to a major transaction involving the purchase of the entire issued share capital of an unnamed target company for HK$340,000,000, to be paid through the issuance of new shares. The deal, which exceeds the 25% threshold of the Listing Rules, requires shareholder approval at an upcoming Extraordinary General Meeting (EGM). Additionally, the transaction is considered connected as it involves executive Directors and their relatives, triggering the need for independent shareholder voting under the Takeovers Code.
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