Core Viewpoint - China Minmetals Corporation's subsidiary, Minmetals Land Co., Ltd., plans to privatize due to the loss of its listing platform advantage and has applied to delist from the Hong Kong Stock Exchange [2][4] Group 1: Privatization Details - The privatization offer is made by June Glory International Limited, a non-wholly owned subsidiary of China Minmetals, proposing to buy shares at HKD 1.000 each, representing a premium of approximately 185.71% over the undisturbed closing price of HKD 0.350 [3][6] - As of the announcement date, Minmetals Land has issued 3,346,908,037 shares, with June Glory holding 2,071,095,506 shares (approximately 61.88%) [3] Group 2: Financial Performance - Minmetals Land has reported cumulative losses exceeding HKD 5.8 billion over the past three years, with significant declines in revenue and increasing net losses [7][8] - The company’s revenue for 2022, 2023, and 2024 is projected at HKD 100.65 million, HKD 126.31 million, and HKD 98.83 million, respectively, with net losses of HKD 13.60 million, HKD 5.26 million, and HKD 37.48 million [7] Group 3: Market Reactions and Future Strategies - Following the announcement, Minmetals Land's stock surged by 91.84% on October 24, indicating strong market interest and speculation regarding its future direction, particularly the potential integration with another subsidiary, China Metallurgical Group [2][8] - The company aims to enhance operational flexibility and focus on long-term strategic planning post-privatization, adapting to the ongoing challenges in the real estate sector [8][9]
连亏三年“已失去上市平台优势”，五矿地产宣布退市，复牌涨超90％