Southwest Securities International Securities (HKG:0812, SHA:600369) said a proposed sale and purchase agreement for a majority stake in the company has lapsed.
The agreement, which would have seen Wong Man Hin Max acquire 74.1% of the company's issued share capital, was terminated after Wong was unable to secure the necessary financing.
Wong had offered to purchase 2,713,469,233 shares in the company held by Southwest Securities International Investment, the company's controlling shareholder.
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