Understanding the Market | SINO GOLF HOLD surged over 13% during the session, accumulating a 3-fold increase after the announcement of the offer. Han Cheng Energy Group may seek a backdoor listing
SINO GOLF HOLD rose over 13% during the session, with a cumulative increase of about 300% since the announcement of the offer on September 23. As of the time of writing, it rose 9.74% to HKD 0.169, with a transaction volume of HKD 14.0799 million. In terms of news, SINO GOLF HOLD recently announced plans to sell 2.601 billion shares and convertible bonds with a total principal amount of HKD 74.1 million to Han Cheng Energy Group, with a total consideration of approximately HKD 93.34 million. Upon completion, the offeror will hold a total of 50.11% of the company's equity. Public information shows that Han Cheng Energy Group is a private enterprise located in Hubei, with an annual output value of nearly 10 billion yuan. Currently, Han Cheng Energy Group is owned by Mr. Liu Jincheng and Mr. Liu Gang, who hold 80% and 20% of the equity, respectively. Some analysts point out that one of the core purposes of Han Cheng Energy Group's acquisition of SINO GOLF HOLD may be to achieve its own backdoor listing
According to Zhitong Finance APP, SINO GOLF HOLD (00361) rose more than 13% during the trading session, with a cumulative increase of about 300% since the announcement of the offer on September 23. As of the time of writing, it rose 9.74% to HKD 0.169, with a trading volume of HKD 14.0799 million.
In terms of news, SINO GOLF HOLD recently announced plans to sell 2.601 billion shares and convertible bonds with a total principal amount of HKD 74.1 million to Han Cheng Energy Group, for a total consideration of approximately HKD 93.34 million. Upon completion, the offeror will hold a total of 50.11% of the company's equity. Public information shows that Han Cheng Energy Group is a private enterprise located in Hubei, with an annual output value of nearly 10 billion yuan. Currently, Han Cheng Energy Group is owned 80% by Mr. Liu Jincheng and 20% by Mr. Liu Gang. Some analysts pointed out that one of the core purposes of Han Cheng Energy Group's acquisition of SINO GOLF HOLD may be to achieve its own backdoor listing
