Sinomax Announces Continuing Connected Transactions Post-Subscription
Sinomax Group Ltd. (HK:1418) announced continuing connected transactions following a subscription agreement that altered its ownership structure. The transactions involve an indirect subsidiary of Sinomax and an associate of M Logistical, a substantial shareholder. Independent non-executive directors deemed the agreements fair and beneficial for the company and shareholders. These transactions comply with specific Listing Rules reporting requirements but are exempt from others. The latest analyst rating for HK:1418 is a Hold with a price target of HK$0.50.
Sinomax Group Ltd. ( (HK:1418) ) has issued an announcement.
Sinomax Group Limited has announced a series of continuing connected transactions following a subscription agreement that resulted in a change of ownership structure for a target company. The transactions involve the Seller, now an indirect subsidiary of Sinomax, and the Buyer, an associate of M Logistical, a substantial shareholder at the subsidiary level. The agreements have been deemed fair and reasonable by the independent non-executive directors and are in the interests of the company and its shareholders. These transactions are subject to specific reporting and review requirements under the Listing Rules but are exempt from certain other requirements.
The most recent analyst rating on (HK:1418) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sinomax Group Ltd. stock, see the HK:1418 Stock Forecast page.
More about Sinomax Group Ltd.
Average Trading Volume: 402,807
Technical Sentiment Signal: Hold
Current Market Cap: HK$385M
Find detailed analytics on 1418 stock on TipRanks’ Stock Analysis page.
