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TOKYO CHUO Major Shareholder Sells Controlling Stake at 70%+ Discount; Trading Resumes Tdy
Recommend 7 Positive 4 Negative 8 |
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TOKYO CHUO (01939.HK) and the offeror ESSA FINANCIAL GROUP LTD have issued a joint announcement, stating that Ando Shokei, the company's controlling shareholder, executive director, and chairman of the board, entered into a sale and purchase agreement as the vendor with the offeror, RUIHE DATA (03680.HK), Li Jiefeng, and Zheng Haoran on April 25, 2025 to sell nearly 375 million shares of the company, representing around 74.99% of its total issued share capital. The total consideration for the sale shares was $165 million, equivalent to $0.44 per sale share, representing a discount of approximately 70.67% to the closing price of $1.5 per share as quoted on the Hong Kong Stock Exchange on the last trading day of the shares. At the request of TOKYO CHUO, trading in its shares has been suspended since April 23 pending the release of the joint announcement. The company has applied for resumption of trading on the Hong Kong Stock Exchange from 9:00 am today (May 6) onwards. AAStocks Financial News |
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