Understanding the Market | SHUNTEN INTL opened over 13% higher as Chairman Zhang Shaohui offered a discount of about 20% to fully acquire the company
SHUNTEN INTL's stock price opened over 13% higher, rising 13.33% to HKD 0.034 as of the time of publication, with a trading volume of HKD 988,300. The company and the offeror Leading Virtue jointly announced that they will acquire approximately 734 million shares on September 12, 2025, for a total consideration of HKD 17.61696 million. Zhang Shaohui acquired 32 million shares for HKD 768,000, representing 24.65% of the company's issued share capital. The offeror is required to make a mandatory conditional cash offer for all issued shares at an offer price of HKD 0.024 per share, representing a discount of approximately 20%
According to Zhitong Finance APP, SHUNTEN INTL (00932) opened over 13% higher, and as of the time of writing, it has risen by 13.33%, trading at HKD 0.034, with a transaction volume of HKD 988,300.
On the news front, SHUNTEN INTL and the offeror Leading Virtue jointly announced that on September 12, 2025, the offeror will acquire a total of approximately 734 million shares from Prosper Rich and Hammer Capital Consulting for a total consideration of HKD 17.61696 million; Mr. Zhang Shaohui will acquire 32 million shares from Hammer Capital Consulting for a consideration of HKD 768,000. The shares being sold (approximately 766 million shares in total) account for about 24.65% of the company's total issued share capital. The total consideration for the sold shares is HKD 18.38496 million, equivalent to approximately HKD 0.024 per sold share.
Immediately following the completion and on the date of this joint announcement, the offeror and its concert parties will hold interests in 1,516,534,033 shares (representing 48.80% of the total issued shares). According to Rule 26.1 of the Takeover Code, the offeror must make a mandatory conditional cash offer for all issued shares (excluding those already owned by the offeror and its concert parties and/or those agreed to be acquired).
In accordance with the Takeover Code, Fali Securities will represent the offeror to make an offer based on the following criteria: cash of HKD 0.024 per offer share, which is approximately a 20.00% discount to the closing price of HKD 0.030 per share reported on the Stock Exchange on the date of this joint announcement
