Shangyu Group (01633) has a total market value of HK$238 million, of which shareholders have deposited 495 million shares with Hongya Capital

The Zhitong Finance App learned that according to the latest data from the Hong Kong Stock Exchange, on July 31, Shangyu Group (01633) changed positions, with a total market value of HK$238 million, accounting for 72.29%. The company's shareholders deposited 495 million shares in Hongya Capital, increasing their shareholding ratio by 72.29%.

Shangyu Group issued an announcement stating that the offender Zhisheng Co., Ltd. agreed to acquire a total of 502 million shares, with a total cash cost of about HK$143 million. Immediately after completion, the offeror and those acting in concert held about 73.33% of the total number of issued shares, so they are required to make a mandatory unconditional cash offer as a rule. The cash offer price was HK$0.2848 per share, a discount of approximately 33.77% from the pre-suspension closing price of HK$0.43 per share. After the offer is fully accepted, the offeror is required to pay a cash payment of up to HK$52.73 million.