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Hon Kwok Land Investment Co., Ltd. ( (HK:0160) ) has provided an update.
Hon Kwok Land Investment Co., Ltd. has announced a major transaction involving the disposal of its Target Group, which includes Oseling Investments, King Capital, and The Bauhinia Hotel (TST). The transaction involves the sale of the Sale Share and Sale Loans to Brightwood Management Limited for an estimated consideration of approximately HK$340,349,500, subject to certain conditions. This disposal is considered a major transaction under the Listing Rules, requiring shareholder approval, which the company plans to obtain from its majority shareholder, CIL, potentially exempting it from holding a general meeting. The completion of this agreement is contingent upon fulfilling specific conditions, and the company advises caution to shareholders and potential investors.
The most recent analyst rating on (HK:0160) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Hon Kwok Land Investment Co., Ltd. stock, see the HK:0160 Stock Forecast page.
More about Hon Kwok Land Investment Co., Ltd.
Average Trading Volume: 136,265
Technical Sentiment Signal: Sell
Current Market Cap: HK$828.5M
See more data about 0160 stock on TipRanks’ Stock Analysis page.