"Stocks in Motion" ADD NEW ENERGY resumes trading with a surge of 3.6 times, receiving a nearly 50% discount for full acquisition
After resuming trading, ADD NEW ENERGY's stock price soared 3.59 times, currently reported at HKD 3.67, with a trading volume of approximately 330,000 shares, involving HKD 930,000. The company received an unconditional mandatory cash offer from PROMINENCE INVESTMENT HOLDING COMPANY LIMITED, with an offer price of HKD 0.4104 per share, totaling approximately HKD 63.746 million, representing a discount of 48.7% compared to the price before suspension. The offeror is wholly owned by SSC Group Limited, which is involved in investment fields such as mining
According to the Economic News Agency on the 4th, ADD NEW ENERGY (02623) resumed trading in the afternoon, with the current price rising 3.59 times to HKD 3.67, with a trading volume of about 330,000 shares, involving HKD 930,000. ADD NEW ENERGY announced that it received an unconditional mandatory cash offer from New Baili Financing Limited for and on behalf of PROMINENCE INVESTMENT HOLDING COMPANY LIMITED to acquire all issued shares of ADD NEW ENERGY Investment Holdings Limited. The offer price is HKD 0.4104 per share, with a total value of approximately HKD 63.746 million, involving about 160 million shares. The offer price represents a discount of 48.7% compared to the company's price of HKD 0.8 before the suspension. Additionally, about 190 million shares of the company are already owned by the offeror and its concert parties.
Data shows that the offeror is wholly owned by SSC Group Limited, which is directly held 50% by Wu Zhenxing and his spouse Wei Jiaming. Their investment fields cover industries such as mining, and they have also invested in other major Hong Kong-listed companies primarily engaged in mining through the offeror and other companies they established, namely WanGuo HuangJin (03939), ZiJin HuangJin GuoJi (02259), and DaTang HuangJin (08299).
Currently, the Hang Seng Index is at 26,154, down 3 points or less than 0.1%, with the main board trading nearly HKD 127.5 billion. (hc)
