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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.