Million Cities Holdings (HKG:2892) as the warrantor, Fortune Speed Investments as the subscriber, and Brillant Avenir Investment, a subsidiary of the company as the target, agreed to extend the long stop date for the subscription agreement between the parties to June 28, 2025.
The parties had entered into a subscription agreement on June 28, following which Fortune Speed Investments had agreed to subscribe for 99% of the enlarged issued share capital of the target company for $99.0.
As the parties required additional time to fulfill the conditions for the transaction, they agreed to extend the long stop date, a Tuesday Hong Kong bourse filing said.
Shares of the property developer closed nearly 4% higher on Tuesday.
Price (HKD): $0.27, Change: $+0.010, Percent Change: +3.92%
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