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Hope Education Group Co., Ltd. ( (HK:1765) ) has shared an announcement.
XJ International Holdings has entered into a securities purchase agreement under which an indirectly wholly owned subsidiary will subscribe for 600,000 new Class B ordinary shares of INTJ Group at US$12.50 per share. Upon completion, XJ International will hold 85.2% of INTJ Group’s voting power, turning it into an indirect subsidiary and bringing its financial statements under consolidation.
The transaction is classified as a connected transaction under Hong Kong listing rules because INTJ Group’s controlling shareholder, Mr. Wang, is also the controlling shareholder and director of XJ International. As the applicable percentage ratios fall between 0.1% and 5%, the deal is subject only to reporting and announcement requirements, not independent shareholders’ approval, and remains conditional on closing, prompting a cautionary note to shareholders and potential investors.
More about Hope Education Group Co., Ltd.
XJ International Holdings Co., Ltd. is a Cayman Islands–incorporated company listed in Hong Kong, operating as an investment holding group. Through its subsidiaries, it deploys capital into various businesses, and its market activity includes strategic share subscriptions to obtain controlling stakes and consolidate financial results within the group structure.
Average Trading Volume: 5,685,579
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.34B
See more insights into 1765 stock on TipRanks’ Stock Analysis page.