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Star Group Company Limited ( (HK:1560) ) just unveiled an update.
Star Group Asia Limited has agreed to dispose of two properties held through an indirect wholly owned subsidiary for a total consideration of HK$58 million, classifying the deal as a major transaction under Hong Kong Listing Rules. Upon completion, the properties will be leased back to a wholly owned subsidiary of Star Group for an initial term of two years at a monthly rent of HK$250,000, allowing the group to unlock asset value while retaining operational use of the premises. As the applicable percentage ratios for the disposal exceed 25% but are below 75%, the transaction is subject to reporting, announcement, circular and shareholder approval requirements, which will be satisfied by written consent from controlling shareholder Mr. Chan and his BVI vehicle in lieu of a physical general meeting, and the company plans to dispatch a circular with further financial details within the required regulatory timeframe.
The most recent analyst rating on (HK:1560) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on Star Group Company Limited stock, see the HK:1560 Stock Forecast page.
More about Star Group Company Limited
Star Group Asia Limited is a Hong Kong-listed company incorporated in the Cayman Islands, with its shares traded on the Main Board of the Stock Exchange of Hong Kong under stock code 1560. The company is controlled by Mr. Chan, who directly and indirectly holds approximately 68.7% of its issued share capital through himself and Star Properties Holdings (BVI) Limited.
Average Trading Volume: 84,952
Technical Sentiment Signal: Sell
Current Market Cap: HK$77.62M
For detailed information about 1560 stock, go to TipRanks’ Stock Analysis page.