Frontage Holdings Announces Major Acquisition to Expand Market Presence

Frontage Holdings Corp. has announced a major acquisition valued at RMB270,000,000, involving the entire issued share capital of a target company through its subsidiary, Frontage Shanghai. This transaction will make the target company a wholly-owned subsidiary and consolidate its financial results into Frontage’s statements. The acquisition requires shareholder approval and the formation of an Independent Board Committee. The latest analyst rating for Frontage Holdings (HK:1521) is a Hold with a price target of HK$1.50. Current market cap stands at HK$2.65B.