Major Holdings Resumes Trading with Sharp Surge Before Gains Ease as Offeror Launches Mandatory General Offer at About 34% Discount

Deep News
13 hours ago

Major Holdings (01389) resumed trading today and briefly surged nearly 170%. As of the time of writing, the stock has pulled back from its highs and is up 32.69%, now trading at HK$0.69, with a turnover of HK$4.5582 million.

Major Holdings and Max Premier, a major shareholder of Mansion Holdings, jointly announced that MP, as the offeror, will acquire 53.77% of the shares from other shareholders for HK$102 million through a mandatory unconditional cash offer at HK$0.3428 per offer share, representing a discount of approximately 34% to the suspension closing price of HK$0.52.

The announcement stated that the maximum cash amount payable by the offeror if the offer is fully accepted is approximately HK$87.84 million. The offeror intends to continue employing the group's existing management and employees, proposes to nominate new directors to join the board, and plans to maintain the shares' listing status after the offer closes. The offeror is owned 62% and 38% by Zhao Chuanrong and Chen Jixiang, respectively.

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10