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Shaw Brothers Holdings Limited ( (HK:0953) ) just unveiled an update.
Shaw Brothers Holdings Limited has agreed to acquire the entire issued share capital of CMC Moon Holdings Limited from its substantial shareholder CMC, in a deal valued at RMB4.5765 billion to be settled entirely by issuing approximately 15.93 billion new shares at HK$0.32 each. The target business comprises content production and investment for films, dramas and non-drama programming in Mainland China and overseas, alongside the operation of more than 50 cinemas under the UME brand and a theatrical distribution circuit, which will become wholly owned and consolidated into Shaw Brothers upon closing. Because key Listing Rules thresholds are exceeded, the transaction constitutes a very substantial acquisition and may be treated as an “extreme transaction” rather than a reverse takeover, subject to Hong Kong Stock Exchange review of detailed disclosures and due diligence, a classification that will shape regulatory requirements and could significantly expand Shaw Brothers’ scale and positioning in the regional film and cinema market.
The most recent analyst rating on (HK:0953) stock is a Hold with a HK$0.37 price target. To see the full list of analyst forecasts on Shaw Brothers Holdings Limited stock, see the HK:0953 Stock Forecast page.
More about Shaw Brothers Holdings Limited
Shaw Brothers Holdings Limited is a Hong Kong-listed company engaged in the media and entertainment industry. Through its existing operations and, subject to completion of the proposed transaction, it focuses on developing, producing, investing in and distributing film, drama and non-drama content, as well as operating cinema chains and theatrical distribution circuits in Mainland China and overseas Chinese-language markets.
Average Trading Volume: 1,931,934
Technical Sentiment Signal: Buy
Current Market Cap: HK$525.3M
For an in-depth examination of 0953 stock, go to TipRanks’ Overview page.