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Regal Hotels International Holdings Limited ( (HK:0078) ) has shared an announcement.
Regal Hotels, via Regal REIT, has agreed to sell the sole issued share of the company owning the Regal Oriental Hotel, along with an associated shareholder loan, to a purchaser for a consideration based on an agreed property value of HK$1.518 billion. Following completion, Regal REIT will exit its ownership of the hotel asset but retain nearby excluded floor areas in Po Sing Court, which will be reassigned within the group and remain leased to the existing tenant under a new tenancy.
The transaction qualifies as a major transaction for Century City and Regal and a discloseable transaction for Paliburg under Hong Kong’s Listing Rules, triggering announcement and circular requirements, though shareholder approvals for Century City and Regal have already been obtained in writing. Completion remains conditional on various requirements being satisfied or waived, meaning the deal may not proceed, and investors in the related listed entities are advised to exercise caution when trading their securities.
The most recent analyst rating on (HK:0078) stock is a Hold with a HK$0.52 price target. To see the full list of analyst forecasts on Regal Hotels International Holdings Limited stock, see the HK:0078 Stock Forecast page.
More about Regal Hotels International Holdings Limited
Regal Hotels International Holdings Limited is a Hong Kong-listed hospitality group with interests in hotel ownership, operation and related real estate, primarily through its listed trust vehicle Regal REIT. The group focuses on hotel assets in Hong Kong, leveraging REIT and corporate structures via Century City, Paliburg and Regal to manage and divest properties while retaining selected ancillary real estate interests.
YTD Price Performance: -5.26%
Average Trading Volume: 340,805
Technical Sentiment Signal: Sell
Current Market Cap: HK$485.3M
Learn more about 0078 stock on TipRanks’ Stock Analysis page.