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Raffles Interior Ltd. ( (HK:1376) ) has provided an update.
Raffles Interior Limited has announced an update regarding legal proceedings involving the acquisition of a 51% equity interest in a previous subsidiary. The company has filed a writ of summons against the original vendor for misrepresentation and breach of the acquisition agreement, particularly concerning the misrepresented trademark ownership and unauthorized loan. The original vendor has countered with a writ of summons against Raffles Interior, claiming the issuance of a convertible note. Raffles Interior plans to contest this claim and seeks to consolidate the court actions due to their related subject matter.
More about Raffles Interior Ltd.
Average Trading Volume: 770,341
Technical Sentiment Signal: Sell
Current Market Cap: HK$85M
See more insights into 1376 stock on TipRanks’ Stock Analysis page.