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China International Development Corporation Limited ( (HK:0264) ) has provided an update.
China International Development Corporation Limited has announced updates regarding its acquisition of a 20% stake in a target company, indicating ongoing negotiations for potential changes in the terms of the agreement. Additionally, the company has entered into a side letter to reduce the number of shares to be placed from 44 million to 15 million due to possible changes in the acquisition. The proceeds from this placement, estimated at HK$20.8 million, will be used to enhance the company’s working capital, covering costs related to leather manufacturing, general operations, and settling outstanding payables.
The most recent analyst rating on (HK:0264) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China International Development Corporation Limited stock, see the HK:0264 Stock Forecast page.
More about China International Development Corporation Limited
Average Trading Volume: 4,333,751
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$1.2B
Learn more about 0264 stock on TipRanks’ Stock Analysis page.