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Qidian International Co., Ltd. ( (HK:1280) ) has provided an announcement.
Qidian International Co., Ltd. has agreed to dispose of its entire equity interest in a wholly owned target company to a substantial shareholder controlled by executive director Yuan Li for nil consideration. Following completion, the target company will be deconsolidated from Qidian International’s financial statements, and the transaction, classified as both a major and connected transaction under Hong Kong Listing Rules, will require reporting, announcement and approval by independent shareholders at an extraordinary general meeting, with investors urged to exercise caution when dealing in the company’s securities.
The most recent analyst rating on (HK:1280) stock is a Sell with a HK$2.50 price target. To see the full list of analyst forecasts on Qidian International Co., Ltd. stock, see the HK:1280 Stock Forecast page.
More about Qidian International Co., Ltd.
Qidian International Co., Ltd., incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange under stock code 1280, operates as part of a corporate group whose consolidated financial statements currently include the target company being disposed of. The purchaser in this transaction is a substantial shareholder of Qidian International and is wholly owned by the company’s executive director Yuan Li, making it a connected person under Hong Kong Listing Rules.
Average Trading Volume: 769,988
Technical Sentiment Signal: Sell
Current Market Cap: HK$5.23B
See more insights into 1280 stock on TipRanks’ Stock Analysis page.