Asia Express (08620.HK) announced that the placing letter of 3C Holding, the controlling shareholder of the company, which intends to place up to 70 million shares of the company after the expiration of the placing period on December 12 this year, has expired, so the placing will not take place.
The Company is of the view that the invalidation of the placing letter will not have any material adverse impact on the business, operation and financial position of the Group.