SOUNDWILL HOLD's privatization fails, dropping over 15% in early trading

AASTOCKS
2025.05.26 02:58

SOUNDWILL HOLD (00878.HK) privatization plan has failed. This morning (26th) it opened down 14.5%, hitting a low of HKD 5.42 in the early session, and is currently reported at HKD 5.5, down 15.25%, with a trading volume of 1.196 million shares, involving HKD 6.5879 million.

The offeror Earning Ease and SOUNDWILL HOLD jointly announced after the market closed last Friday (23rd) that the offeror's proposal to privatize the company through an agreement arrangement was not approved at the court meeting, with opposing votes accounting for 39.52%. Therefore, the resolution will not take effect, and the special dividend will not be distributed

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