ANALOGUE HLDGS (01977) Plans to Sell Up to 16.254 Million A-Shares of Nanjing Canatal

Stock News

Jan 08

ANALOGUE HLDGS (01977) has issued an announcement stating that the company has notified Nanjing Canatal Data-Centre Environmental Tech Co.,Ltd. of its intention to sell no more than 16.254 million A-shares in Nanjing Canatal through public market bidding and block trade methods. The disposal period for both the public market bidding and the block trades will be 90 days, commencing 15 trading days after the date of the relevant announcement published by Nanjing Canatal on the Shanghai Stock Exchange. Both disposal methods are subject to relevant restrictions under applicable Chinese laws, including percentage limitations and price limits where applicable. The announcement stated that the share sale can increase the Group's cash reserves for use in expansion and as a fund for mergers and acquisitions. The Directors believe that the proposed disposal, if implemented, will provide the Company with an opportunity to realize a portion of its investment in Nanjing Canatal at a reasonable price and allow for the reallocation of resources to support the company's other business development initiatives.

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