Prosper Construction Converts Overdue Debts into Properties in Major Acquisition Rectification
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Prosper Construction Holdings Limited (HK:6816) has announced a major acquisition rectification involving the purchase of properties worth RMB34.6 million from two Qingdao vendors. The acquisition was financed by offsetting overdue debts owed to the subsidiary, converting them into property assets. The company clarified that the vendors are independent third parties, addressing potential related-party concerns. The latest analyst rating for HK:6816 is a Hold with a price target of HK$0.22. Prosper Construction is a Hong Kong-listed construction group engaged in various engineering services.
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