Changes in Hong Kong stocks | Shell Electric (02381) rose more than 6% at the end of the session, and Star Signs Holdings has become the controlling shareholder. A mandatory unconditional cash offer is about to be launched

The Zhitong Finance App learned that Shell Electric (02381) rose more than 6% at the end of the session. As of press release, it rose 6.41% to HK$0.415, with a turnover of HK$1,833,300.

According to the news, Shell Electric recently announced that Xingzhao Holdings has completed the acquisition of 1.4 billion shares of Shell Electric, accounting for 70% of the company's total issued shares, at a total cost of HK$154 million. After the share settlement was completed, Shell Electric's controlling shareholder was officially changed to Star Signs Holdings. The above acquisition triggers a mandatory full offer obligation, and Star Signs Holdings will issue a full offer at the same price per share

According to reports, Xingzhao Holdings is directly wholly-owned by Tianlong Mobile, a leading smart terminal company in China, while Tianlong Mobile holds 97.0149% of the interests of Tianlong Technology Group. Xingzhao Holdings clearly stated that it plans to continue Shell's existing business, has no intention of privatizing the company, and plans to maintain the listed position of the company's shares on the Stock Exchange. This transaction is more inclined to achieve strategic entry into industrial capital through a transfer of control.