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APAC Resources ( (HK:1104) ) just unveiled an announcement.
APAC Resources Limited, through its indirect wholly-owned subsidiary Wah Cheong Development (B.V.I.) Limited, has announced a conditional voluntary cash offer to acquire all issued shares of Dragon Mining Limited. The offer is priced at HK$2.60 per share, with a maximum acquisition of 111,218,886 shares, requiring HK$289,169,103.60 in total. The offer is subject to regulatory approvals and is part of a strategic move to consolidate its position in the mining sector. Allied Properties, a significant shareholder, has agreed not to accept the offer, impacting the potential acquisition size.
More about APAC Resources
APAC Resources Limited, incorporated in Bermuda, operates in the resources and mining industry, with a focus on investments and operations in the Asia-Pacific region. The company is involved in various resource-related activities, including mining and exploration, and has a market presence through its stock listings.
YTD Price Performance: 14.58%
Average Trading Volume: 408,464
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$1.55B
Find detailed analytics on 1104 stock on TipRanks’ Stock Analysis page.