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<Resume> RONGZUN INT'L H (01780.HK) 13.55% Stake Sold at 48% Discount, Triggering Technical General Offer
RONGZUN INT'L H (01780.HK) announced that former shareholder Xia Liping has sold a 13.55% stake in the company to Yang Jingyao (the offeror), involving 84 million shares, for a tot...
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<Resume> RONGZUN INT'L H (01780.HK) 13.55% Stake Sold at 48% Discount, Triggering Technical General Offer
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RONGZUN INT'L H (01780.HK)  +0.500 (+22.727%)   announced that former shareholder Xia Liping has sold a 13.55% stake in the company to Yang Jingyao (the offeror), involving 84 million shares, for a total consideration of HKD43.68 million, equivalent to HKD0.52 per share. Upon completion, the offerors shareholding in the company will increase from 19.84% to 33.39%, triggering a mandatory general offer in accordance with the rules at a cash price of HKD0.52 per share, representing a 48% discount to the closing price before the trading suspension.

Following the close of the offer, the offeror intends to maintain the companys listing status. The company has applied for the resumption of trading in its shares on Friday (8th). (de/d)(HK stocks quote is delayed for at least 15 mins.)

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