Westwell’s Partial Offer for XiangXing Shares Closes Oversubscribed
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Westwell Holdings' voluntary cash partial offer for XiangXing International Holding Limited closed oversubscribed, with valid acceptances for 378,280,000 shares, exceeding the 371,200,000-share cap. Acceptances will be scaled back pro rata, with approximately 98.13% of each shareholder's tendered shares being taken up. This acquisition increases Westwell's stake and refines XiangXing's ownership structure, potentially influencing future governance. The latest analyst rating for XiangXing (HK:1732) is a Hold with a price target of HK$0.24.
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