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Zhong Ao Home Group Limited ( (HK:1538) ) has issued an update.
Zhong Ao Home Group Limited has announced that its wholly owned subsidiary Guangdong Xunhua will form a new joint venture company in mainland China with Tokyo Universe, to be owned 51% by Guangdong Xunhua and 49% by Dongyu Technology, with certain individuals acting as guarantors for Tokyo Universe’s obligations. As part of the arrangement, Zhong Ao Home plans to issue 85,455,000 unlisted warrants under a specific mandate to the guarantors at a nominal consideration, each warrant exercisable at HK$0.42 per share, subject to shareholder approval at an extraordinary general meeting and compliance with Hong Kong listing rules; the deal is exempt from major transaction requirements but could lead to future equity dilution if the warrants are exercised, and shareholders are advised to act cautiously.
The most recent analyst rating on (HK:1538) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Zhong Ao Home Group Limited stock, see the HK:1538 Stock Forecast page.
More about Zhong Ao Home Group Limited
Zhong Ao Home Group Limited is a Hong Kong-listed company incorporated in the Cayman Islands, with operations conducted through subsidiaries including Guangdong Xunhua in mainland China. The group is engaged in property-related and community-oriented services, leveraging joint ventures and capital market instruments to support its business development in the PRC.
Average Trading Volume: 194,739
Technical Sentiment Signal: Buy
Current Market Cap: HK$350.4M
For a thorough assessment of 1538 stock, go to TipRanks’ Stock Analysis page.