Group 1 - June Glory International Limited and Minmetals Land Limited announced a plan for the privatization of Minmetals Land and the cancellation of its listing status on the Hong Kong Stock Exchange [1][4] - The court meeting and special shareholder meeting are scheduled for February 9, 2026, with the expected delisting date on March 3, 2026 [1][4] - The privatization plan includes a share cancellation at a price of HKD 1 per share, representing a premium of approximately 104.08% over the closing price on September 29, 2025, with a total cash consideration of up to HKD 1.276 billion [1][4] Group 2 - Minmetals Land cited low trading volumes as a limitation on its ability to raise funds from the capital markets, having not raised any funds through share issuance since 2009 [2][5] - The company believes that privatization will enhance its long-term strategic implementation and operational flexibility, as well as streamline its corporate structure and improve management efficiency [2][5] Group 3 - Minmetals Land has faced continuous losses, reporting net losses of HKD 1.362 billion, HKD 1.016 billion, and HKD 3.521 billion for the years 2022 to 2024 [3][7] - The company had previously set ambitious sales targets, aiming for a sales goal of HKD 100 billion, which it has not achieved due to the real estate adjustment cycle [3][7] - In the first half of 2025, the company reported a net loss of HKD 585 million and a contract sales figure of approximately HKD 2.29 billion, a year-on-year decline of about 28.4% [3][7]
五矿地产寄发私有化计划文件，预计3月初退市