tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Sinomax Group Expands Stake in Target Company with EUR5 Million Share Subscription

Story Highlights
  • Sinomax Group Ltd. has subscribed to additional shares in a target company for EUR5 million.
  • The transaction consolidates the target company’s financials into Sinomax’s accounts, enhancing its market position.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Sinomax Group Expands Stake in Target Company with EUR5 Million Share Subscription

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Sinomax Group Ltd. ( (HK:1418) ) just unveiled an announcement.

Sinomax Group Ltd. has announced a further subscription of shares in a target company, with a transaction valued at EUR5 million. This move will result in Sinomax’s subsidiary owning 55% of the target company, consolidating its financial results into the group’s accounts. The transaction is classified as a discloseable transaction under Hong Kong’s listing rules but is exempt from shareholder approval. Additionally, the target group has secured rights to continue selling and manufacturing goods incorporating licensed properties, ensuring ongoing business operations under existing agreements.

More about Sinomax Group Ltd.

Sinomax Group Ltd. is a company incorporated under the laws of the Cayman Islands, primarily engaged in the manufacturing and sale of goods and merchandise. The company operates in the industry of consumer goods and has a market focus on leveraging licensed properties for its product offerings.

Average Trading Volume: 255,743

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$542.5M

See more data about 1418 stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1