In the resumption of trading, CHINA ENERGY's major shareholder increased its stake to 52.97%, triggering a full acquisition
CHINA ENERGY (00228.HK) announced that following the completion of the rights issue, Alpha Eagle (the offeror) and its concert parties increased their shareholding in the company from 29.84% to 52.97%. Therefore, a mandatory general offer must be made at a cash price of HKD 1.57 per share, representing a premium of 9.03% over the last trading price before suspension. The maximum cash consideration is approximately HKD 391 million.
After the offer concludes, the offeror intends to maintain the listing status of the shares. The company's shares have been applied to resume trading on Wednesday (24th)
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