Zhongchang International Holdings Group Limited ( (HK:0859) ) has provided an announcement.
Zhongchang International Holdings Group Limited announced that its indirect controlling shareholder, China Cinda Asset Management Co., Ltd., will undergo a gratuitous transfer of shares. The Ministry of Finance of China will transfer its shares in China Cinda to Central Huijin Investment Ltd. This transfer will make Huijin the controlling shareholder of China Cinda. The transaction is structured to avoid triggering mandatory general offer obligations under the Hong Kong Takeovers Code, as a waiver has been granted by the Securities and Futures Commission. This strategic move is expected to maintain the current state-owned status of China Cinda without altering the direct control of Zhongchang International Holdings Group Limited.
More about Zhongchang International Holdings Group Limited
Zhongchang International Holdings Group Limited is incorporated in Bermuda with limited liability and is listed on the Hong Kong Stock Exchange. The company operates as a part of a group involved in various sectors, with a focus on asset management and investment services.
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €17.82M
See more insights into 0859 stock on TipRanks’ Stock Analysis page.