World Nexus Takes Control of Thelloy Development, Triggers Mandatory Cash Offer
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World Nexus Holdings Limited has acquired a 62.6% controlling interest in Thelloy Development Group Limited by purchasing 500,800,000 shares for HK$95.15 million at HK$0.19 per share. This acquisition triggers a mandatory cash offer for the remaining shares under Hong Kong’s Takeovers Code. Lego Securities will manage this offer, providing an exit opportunity for minority shareholders. Thelloy Development, now majority-owned by World Nexus, is listed on the Hong Kong Stock Exchange, with a current market cap of HK$232 million and an analyst rating of Sell at a HK$0.27 price target.
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