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%