Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
An update from Thelloy Development Group Limited ( (HK:1546) ) is now available.
World Nexus Holdings Limited has completed the acquisition of 500,800,000 shares in Thelloy Development Group Limited for HK$95.15 million, paying HK$0.19 per share and securing a 62.6% controlling interest in the Hong Kong-listed firm. Before this transaction, neither World Nexus nor its concert parties held any shares in Thelloy, marking a change of control at the company.
Following the completion of the share purchase, World Nexus is now obliged under Hong Kong’s Takeovers Code to launch a mandatory unconditional cash offer for all remaining issued shares not already owned or agreed to be acquired by it and its concert parties. Lego Securities will carry out this offer on behalf of World Nexus, with full terms to be detailed in a forthcoming composite document, signaling a potential exit opportunity and ownership reshuffle for minority shareholders.
The most recent analyst rating on (HK:1546) stock is a Sell with a HK$0.27 price target. To see the full list of analyst forecasts on Thelloy Development Group Limited stock, see the HK:1546 Stock Forecast page.
More about Thelloy Development Group Limited
Thelloy Development Group 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. The company is now majority-owned by World Nexus Holdings Limited, a British Virgin Islands-incorporated investment vehicle that has acquired a controlling stake through a negotiated share purchase.
Average Trading Volume: 4,736,742
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$232M
See more data about 1546 stock on TipRanks’ Stock Analysis page.