Changes in Hong Kong stocks | Shuhao Holdings (00064) resumed trading and rose by more than 11% and was privatized by the Chairman at HK$4 per share

The Zhitong Finance App learned that the resumption of trading of Jiao Hao Holdings (00064) rose by more than 11% this morning. As of press release, it had risen 11.18% to HK$3.78, with a turnover of HK$3.484 million.

According to the news, on the evening of July 17, Jiehao Holdings issued an announcement stating that Chairman, Executive Director and Founder Hong Hanwen (Offeror) requested the board of directors to submit proposals to plan shareholders to privatize the company through planned arrangements. The compensation is a total price of HK$4 for each cancelled plan share, including the cancellation price of HK$2 per planned share, which will be paid in cash by the offeror; and a special dividend of HK$2 per share, which will be paid in cash by the company.

The cancellation price of HK$2 is about 41.2% off of the closing price of HK$3.4 per share reported on the Stock Exchange on the last trading day. The total price is HK$4 per share, which is a 17.6% premium over the closing price of HK$3.4 on the last trading day. After the plan comes into effect, the company will routinely apply to the Stock Exchange to withdraw the listing status of its shares on the Stock Exchange.