Tiangong International Co. Ltd. (HK:0826) has released an update.
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Tiangong International Co. Ltd. is involved in a significant equity buy-back transaction concerning its subsidiary TG Tools. The buy-back agreements involve several investors, including Qichen, Qilu, and Sinopec Capital, who have agreed to sell their stakes back to TG New Materials after TG Tools failed to achieve a qualified listing by the end of 2023. These transactions, falling under discloseable transactions per Hong Kong’s Listing Rules, highlight the company’s strategic maneuvers to consolidate its position.
For further insights into HK:0826 stock, check out TipRanks’ Stock Analysis page.
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