Jianyi Group (00638) resumed trading more than 25% higher. As of press release, it rose 25.93% to HK$0.68, with a turnover of HK$134,600.
The Zhitong Finance App learned that Jianyi Group (00638) resumed trading more than 25%. As of press release, it had risen 25.93% to HK$0.68, with a turnover of HK$134,600.
According to the news, Jianyi Group announced that it is proposed that Resplendent Global Limited (Offeror), held by Chairman and CEO Cheng Chujie and his family, privatize the company through an agreement arrangement and will cancel the company's listing status. The plan requires cancellation of the plan shares in exchange for the payment of HK$0.72 in cash to the plan shareholders for each plan share, a premium of approximately 33.3% over the closing price of HK$0.54 per share on March 27. There will be no increase in the cancellation price, and the offeror does not reserve the right to do so. Jianyi Group applied to resume trading this morning.
According to the announcement, the company's stock price is low and trading liquidity is low. The cancellation price is a premium of about 55.9% from the 90-day average closing stock price of about 0.46 yuan, providing an attractive opportunity for planned shareholders to withdraw and realize all of their investments in the company in a challenging market environment.