UBTECH Robotics Moves to Take Control of Shenzhen-Listed Firm in RMB1.67 Billion Deal

Claim 70% Off TipRanks This Holiday SeasonUnlock hedge-fund level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potentialAn announcement from UBTECH ROBOTICS CORP LTD Class H ( (HK:9880) ) is now available. UBTECH Robotics Corp Ltd has agreed to acquire a 29.99% equity stake in a Shenzhen Stock Exchange-listed target company via a share transfer at RMB17.72 per A share, followed by a voluntary partial offer to purchase an additional 13.02% stake at the same price, with a total cash consideration of approximately RMB1.67 billion funded from internal resources, including proceeds from a previous share placing. Upon completion, UBTECH is expected to hold about 43% of the target company’s shares, gaining board control and consolidating the target group’s financials, with the deal classified as a major transaction under Hong Kong listing rules and therefore subject to shareholder approval at an extraordinary general meeting where certain incentive scheme trustee-held shares must abstain from voting. The most recent analyst rating on (HK:9880) stock is a Buy with a HK$154.00 price target. To see the full list of analyst forecasts on UBTECH ROBOTICS CORP LTD Class H stock, see the HK:9880 Stock Forecast page. More about UBTECH ROBOTICS CORP LTD Class H UBTECH Robotics Corp Ltd is a robotics company incorporated in the People’s Republic of China and listed in Hong Kong. The company focuses on developing and commercializing robotic technologies and related products, leveraging capital market financing, including share placings under a general mandate, to support strategic investments and expansion in its robotics ecosystem. Average Trading Volume: 9,095,088 Technical Sentiment Signal: Strong Buy Current Market Cap: HK$57.39B For a thorough assessment of 9880 stock, go to TipRanks’ Stock Analysis page.