Changes in Hong Kong stocks | Huaxin Construction (06655) rose more than 5% at the end of the session and will consider the two-stage acquisition of Lahao's Philippine assets

The Zhitong Finance App learned that Huaxin Construction (06655) rose more than 5% at the end of the session. As of press release, it had risen 5.28% to HK$15.74, with a turnover of HK$27.1473 million.

According to the news, recently, Huaxin Materials announced that the company plans to acquire a total of about 99% of the issued shares of Philippine HPI held by Holderfin B.V., a subsidiary of Holderfin B.V., a wholly-owned subsidiary, in two stages. The transaction constitutes a discloseable and connected transaction. The first stage was to acquire 67.623% of HPI's shares through the acquisition of shares in the three holding companies, at a corresponding cost of no more than US$527 million; in the second phase, the remaining 31.377% of the shares were acquired through option arrangements, with a lower cost of US$280 million and an upper limit of US$392 million. Before the initial delivery, a mandatory offer must be initiated with HPI public shareholders, at a corresponding cost of no more than 7.8 million US dollars.