Guangdong-HKGBA Scraps Share Subscription Agreement with Eminent Ascend

MT Newswires Live12-05

Guangdong-Hong Kong Greater Bay Area (HKG:1396) terminated its share subscription agreement with Eminent Ascend after determining the deal constituted a connected transaction and could not proceed under the general mandate, according to a Friday Hong Kong bourse filing.

The agreement, signed on Dec. 4, would have seen Eminent Ascend subscribe for about 14.5 million new shares. Both parties agreed to terminate the contract immediately, releasing each other from further obligations.

The company's separate subscription agreement with CMBI PRIVATE EQUITY SERIES SPC, acting for CMBI Next-Gen Infrastructure Fund SP, remains in effect.

CMBI Next-Gen Infrastructure Fund SP will take up about 19.6 million new shares upon completion.

Gross proceeds from the remaining subscription are expected to be about HK$108 million, with net proceeds of roughly HK$107.6 million, which the company plans to apply mainly toward AI computing power cloud service projects, construction payments, and operating expenses.

Trading is expected to resume later in the day after the property developer halted its shares on Friday.

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2589863924?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-05 12:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2589863924","market":"hk","top_or_hot":-1,"title":"Guangdong-HKGBA Scraps Share Subscription Agreement with Eminent Ascend","media":"MT Newswires Live","content":"<html><body><p> Guangdong-Hong Kong Greater Bay Area (HKG:1396) terminated its share subscription agreement with Eminent Ascend after determining the deal constituted a connected transaction and could not proceed under the general mandate, according to a Friday Hong Kong bourse filing.</p><p>The agreement, signed on Dec. 4, would have seen Eminent Ascend subscribe for about 14.5 million new shares. Both parties agreed to terminate the contract immediately, releasing each other from further obligations.</p><p>The company's separate subscription agreement with CMBI PRIVATE EQUITY SERIES SPC, acting for CMBI Next-Gen Infrastructure Fund SP, remains in effect.</p><p>CMBI Next-Gen Infrastructure Fund SP will take up about 19.6 million new shares upon completion.</p><p>Gross proceeds from the remaining subscription are expected to be about HK$108 million, with net proceeds of roughly HK$107.6 million, which the company plans to apply mainly toward AI computing power cloud service projects, construction payments, and operating expenses.</p><p>Trading is expected to resume later in the day after the property developer halted its shares on Friday.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Guangdong-HKGBA Scraps Share Subscription Agreement with Eminent Ascend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGuangdong-HKGBA Scraps Share Subscription Agreement with Eminent Ascend\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-12-05 12:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Guangdong-Hong Kong Greater Bay Area (HKG:1396) terminated its share subscription agreement with Eminent Ascend after determining the deal constituted a connected transaction and could not proceed under the general mandate, according to a Friday Hong Kong bourse filing.</p><p>The agreement, signed on Dec. 4, would have seen Eminent Ascend subscribe for about 14.5 million new shares. Both parties agreed to terminate the contract immediately, releasing each other from further obligations.</p><p>The company's separate subscription agreement with CMBI PRIVATE EQUITY SERIES SPC, acting for CMBI Next-Gen Infrastructure Fund SP, remains in effect.</p><p>CMBI Next-Gen Infrastructure Fund SP will take up about 19.6 million new shares upon completion.</p><p>Gross proceeds from the remaining subscription are expected to be about HK$108 million, with net proceeds of roughly HK$107.6 million, which the company plans to apply mainly toward AI computing power cloud service projects, construction payments, and operating expenses.</p><p>Trading is expected to resume later in the day after the property developer halted its shares on Friday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01396","symbol_name":"粤港湾控股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2589863924","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2589863924","pubTimestamp":1764910759,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Guangdong-Hong Kong Greater Bay Area  terminated its share subscription agreement with Eminent Ascend after determining the deal constituted a connected transaction and could not proceed under the general mandate, according to a Friday Hong Kong bourse filing.The agreement, signed on Dec. 4, would have seen Eminent Ascend subscribe for about 14.5 million new shares. Both parties agreed to terminate the contract immediately, releasing each other from further obligations.The company's separate subscription agreement with CMBI PRIVATE EQUITY SERIES SPC, acting for CMBI Next-Gen Infrastructure Fund SP, remains in effect.CMBI Next-Gen Infrastructure Fund SP will take up about 19.6 million new shares upon completion.Gross proceeds from the remaining subscription are expected to be about HK$108 million, with net proceeds of roughly HK$107.6 million, which the company plans to apply mainly toward AI computing power cloud service projects, construction payments, and operating expenses.Trading i","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01396":"粤港湾控股","BK1541":"物流","BK1240":"房地产开发"},"translate_title":"粤港澳大湾区终止与Eminent Ascend的股份认购协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01396":1},"content_text":"Guangdong-Hong Kong Greater Bay Area (HKG:1396) terminated its share subscription agreement with Eminent Ascend after determining the deal constituted a connected transaction and could not proceed under the general mandate, according to a Friday Hong Kong bourse filing.The agreement, signed on Dec. 4, would have seen Eminent Ascend subscribe for about 14.5 million new shares. Both parties agreed to terminate the contract immediately, releasing each other from further obligations.The company's separate subscription agreement with CMBI PRIVATE EQUITY SERIES SPC, acting for CMBI Next-Gen Infrastructure Fund SP, remains in effect.CMBI Next-Gen Infrastructure Fund SP will take up about 19.6 million new shares upon completion.Gross proceeds from the remaining subscription are expected to be about HK$108 million, with net proceeds of roughly HK$107.6 million, which the company plans to apply mainly toward AI computing power cloud service projects, construction payments, and operating expenses.Trading is expected to resume later in the day after the property developer halted its shares on Friday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2589863924","isCrawlerRequest":true}