Tian Ge Warns Public Float May Drop Further Amid Sina Partial Offer

Tian Ge Interactive Holdings ( (HK:1980) ) has issued an update.

Tian Ge Interactive Holdings has disclosed that its public float currently stands at about 20.85%, below the minimum requirement under Hong Kong listing rules, and could fall further to 17.92% if a partial cash offer by Sina Hong Kong Limited is fully accepted by public shareholders. The company has applied for a temporary waiver from strict compliance with public float rules, is constrained from taking remedial corporate actions during the ongoing offer period under the Takeovers Code, and has pledged to restore its public float as soon as practicable after the offer closes, with further announcements to follow on the waiver outcome and float-restoration plans.

The most recent analyst rating on (HK:1980) stock is a Hold with a HK$0.77 price target. To see the full list of analyst forecasts on Tian Ge Interactive Holdings stock, see the HK:1980 Stock Forecast page.

More about Tian Ge Interactive Holdings

Tian Ge Interactive Holdings Limited is a Cayman Islands-incorporated company listed in Hong Kong under stock code 1980. It operates in the interactive and online services sector, although this announcement focuses on its shareholding structure and public float rather than its operating businesses or specific products.

Average Trading Volume: 1,355,792

Technical Sentiment Signal: Buy

Current Market Cap: HK$813.1M

For detailed information about 1980 stock, go to TipRanks’ Stock Analysis page.