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An announcement from Zhongzheng International Company Limited ( (HK:0943) ) is now available.
Zhongzheng International Company Limited has agreed to acquire the entire equity interest and shareholder’s loan of a target company that will wholly own YS Tech, a software developer focused on digital empowerment and SaaS applications for the beauty sector in Guangdong, for a total consideration of HK$62.5 million. The deal will be settled entirely through the issuance of 341,903,719 new shares, representing about 16.6% of the enlarged share capital, under the company’s general mandate, subject to listing approval in Hong Kong, and is classified as a discloseable transaction under the Listing Rules. Upon completion, the vendor will become a substantial shareholder and connected person, and the ongoing provision of IT services by the Target Group to YS Tech Holdco’s branches and the provision of office space by YS Tech Holdco to the Target Group will be treated as de minimis continuing connected transactions, fully exempt from shareholder approval, annual review and disclosure requirements, signalling manageable regulatory impact while broadening Zhongzheng International’s footprint in technology services for the beauty industry.
The most recent analyst rating on (HK:0943) stock is a Hold with a HK$0.17 price target. To see the full list of analyst forecasts on Zhongzheng International Company Limited stock, see the HK:0943 Stock Forecast page.
More about Zhongzheng International Company Limited
Zhongzheng International Company Limited, incorporated in Bermuda and listed in Hong Kong, is expanding into digital solutions through the planned acquisition of YS Tech, a Guangdong-based developer of bespoke cloud-based applications and SaaS software for the beauty and medical aesthetic industry. YS Tech serves close to 200 beauty and medical aesthetic centres, including two directly operated branches, and provides both tailored digital empowerment tools and open-subscription SaaS platforms to its client base in the PRC.
Average Trading Volume: 340,824
Technical Sentiment Signal: Sell
Current Market Cap: HK$335.1M
Find detailed analytics on 0943 stock on TipRanks’ Stock Analysis page.