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YGM Trading Limited ( (HK:0375) ) has issued an update.
YGM Trading Limited has agreed to sell the entire issued share capital of its subsidiary YGM Retail, together with a related shareholder loan, for HK$34.32 million to a purchaser jointly owned by connected persons, triggering discloseable and connected transaction requirements and the need for independent shareholders’ approval. As part of the deal, YGM Retail will grant YGM Marketing non-exclusive rights to manufacture, market and sell Ashworth-branded products in Hong Kong and Macau under a new three-year distribution and manufacturing licence, the existing Purchase Master Agreement with Citimark will be terminated on completion, and an independent financial adviser has been appointed ahead of an extraordinary general meeting and circular to seek minority investors’ consent for the transaction and associated continuing connected transactions.
The most recent analyst rating on (HK:0375) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on YGM Trading Limited stock, see the HK:0375 Stock Forecast page.
More about YGM Trading Limited
YGM Trading Limited is a Hong Kong-incorporated company engaged in garment wholesaling and retailing, primarily through its subsidiary YGM Marketing in Hong Kong and Macau. The group’s portfolio includes branded apparel, notably the Ashworth brand, which is distributed in Greater China via licensing and distribution arrangements.
Average Trading Volume: 54,415
Technical Sentiment Signal: Buy
Current Market Cap: HK$190.7M
See more data about 0375 stock on TipRanks’ Stock Analysis page.