ADD NEW ENERGY received a 48.7% discount on the full acquisition offer, resuming trading in the afternoon
ADD NEW ENERGY announced that it has received an unconditional mandatory cash offer from New Baili Financing Co., Ltd. to acquire all issued shares. The offer price is HKD 0.4104 per share, with a total value of approximately HKD 63.746 million, representing a discount of 48.7% compared to the pre-suspension price of HKD 0.8. Currently, approximately 190 million shares are owned by the offeror and its concert parties. The company has applied to resume trading of its shares
According to a report from Economic Information Agency on the 4th, ADD NEW ENERGY (02623) announced that it has received an unconditional mandatory cash offer from New Bailey Financing Limited for and on behalf of PROMINENCE INVESTMENT HOLDING COMPANY LIMITED to acquire all issued shares of ADD NEW ENERGY Investment Holdings Group 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 last trading price of HKD 0.8 before suspension.
Additionally, approximately 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% each 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).
The company has applied to the Stock Exchange for the resumption of trading of its shares starting this afternoon. (rh)
