Bermuda Supreme Court Sanctions Takeover Scheme for Huafa Property Services

MT Newswires Live

Sep 26, 2024

Bermuda's Supreme Court sanctioned the proposed takeover scheme for Huafa Property Services Group (HKG:0982) without modification, making the scheme binding, according to a Thursday filing with the Hong Kong bourse.

The company's shares are expected to be delisted on Sept. 26, which will complete the process. However, the two transacting parties have until Nov. 30 to complete the deal officially, or it will lapse.

The takeover proposal, jointly prepared by Huafa Properties and Huajin Investment, requires all current shares to be canceled after HK$0.29 per share is paid. The total consideration for the scheme is about HK$1.68 billion. The shareholders approved the scheme in a special general meeting in July.

Huajin International is a unit of Zhuhai Huafa Properties (SHA:600325).

Price (HKD): $0.29, Change: $+0.0050, Percent Change: +1.75%

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However, the two transacting parties have until Nov. 30 to complete the deal officially, or it will lapse.</p><p>The takeover proposal, jointly prepared by Huafa Properties and Huajin Investment, requires all current shares to be canceled after HK$0.29 per share is paid. The total consideration for the scheme is about HK$1.68 billion. The shareholders approved the scheme in a special general meeting in July.</p><p>Huajin International is a unit of Zhuhai Huafa Properties (SHA:600325).</p><p>Price (HKD): $0.29, Change: $+0.0050, Percent Change: +1.75%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0028","symbol_name":"国家队","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2470045228","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2470045228","pubTimestamp":1727317432,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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