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Tiande Chemical Holdings Limited ( (HK:0609) ) has issued an announcement.
Tiande Chemical Holdings Limited has agreed to acquire the remaining 49% equity interest in a non-wholly owned subsidiary from an existing substantial shareholder for RMB88 million, turning the target into an indirect wholly owned subsidiary. The consideration will be settled mainly by offsetting debt owed by the vendor to the purchaser, with a small remaining balance to be paid in cash, and the deal is classified as a discloseable and connected transaction under Hong Kong’s Listing Rules, though exempt from shareholder approval; directors state the terms are fair and in the interests of the company and its shareholders, indicating a move to consolidate control and streamline the group’s corporate structure.
More about Tiande Chemical Holdings Limited
Tiande Chemical Holdings Limited is a Hong Kong-listed chemical company engaged through its subsidiaries in the production and sale of chemical products, with its operations structured via various partially and wholly owned subsidiaries. The group uses these subsidiaries to manage and expand its interests in specific chemical manufacturing and related businesses in mainland China.
Average Trading Volume: 284,204
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.25B
For detailed information about 0609 stock, go to TipRanks’ Stock Analysis page.