Movement Alert｜TCL ELECTRONICS Intraday Rise 5.07% in Regular Trading, completion of air-conditioning business acquisition supports sentiment

Market Focus11-03

On November 3, TCL ELECTRONICS rose 5.07% in Regular Trading, trading at HK$15.72, with turnover of HK$31.14 million.

The move followed the company’s announcement on November 2 that it had completed the acquisition of the target company owning the TCL air-conditioning business after all conditions were satisfied.

Under the agreement, TCL ELECTRONICS allotted and issued 362,863,775 new shares to the seller at HK$15.00 per share as consideration. The new shares represented about 14.39% of issued share capital before completion and about 12.58% of enlarged issued share capital after completion. Following the closing, the target company became a wholly owned subsidiary and its financial results will be consolidated into the group’s financial statements, strengthening TCL ELECTRONICS’ expansion from TV-led operations toward a broader home appliance platform.

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