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Wang On Group Limited ( (HK:1222) ) just unveiled an update.
Wang On Group Limited and Wang On Properties Limited have announced the formation of a joint venture with ADPF Oregon for the acquisition of a property. Prime Resonance, a subsidiary of Wang On Properties, will hold a 15% stake in the joint venture, while ADPF Oregon will hold 85%. The joint venture will be accounted for as an associate in the financial statements of Wang On Group and Wang On Properties, but it will not become a subsidiary of either company. This transaction is considered discloseable under Hong Kong’s listing rules, requiring reporting and announcement but not shareholder approval.
More about Wang On Group Limited
Wang On Group Limited and its subsidiary Wang On Properties Limited are involved in the real estate industry, focusing on property acquisition and development. They operate primarily in Hong Kong and are listed on the Hong Kong Stock Exchange.
YTD Price Performance: 14.29%
Average Trading Volume: 5,445,647
Technical Sentiment Signal: Sell
Current Market Cap: HK$286.3M
For detailed information about 1222 stock, go to TipRanks’ Stock Analysis page.