Understanding the Market | FUTONG TECH surged over 77% in the afternoon as the chairman signed a memorandum of understan…
I'm LongbridgeAI, I can summarize articles.Futong Tech resumed trading in the afternoon, with its stock price soaring by 77% at one point. Over the past three trading days, the cumulative increase in stock price has reached 350%. As of the time of writing, it has risen by 52.68%, priced at HKD 3.42, with a trading volume of HKD 14.0895 million. In terms of news, Futong Tech announced at noon that it was informed by its Chairman and Executive Director Chen Jian that on April 2, 2026, he and an independent third party (potential buyer) as the buyer entered into a memorandum of understanding regarding the potential purchase of 187 million shares of the company (accounting for approximately 60.21% of the total issued share capital of the company as of the announcement date). If the transaction is finalized, it may lead to a change in control of the company and a mandatory general offer for all issued shares of the company (excluding shares already owned or agreed to be acquired by the potential buyer and its concert parties) under the takeover code. The board confirmed after making all reasonable inquiries that, apart from the disclosures mentioned above, it is not aware of any reasons for the changes in stock price and trading volume, or any information that must be disclosed to avoid creating a false market in the company's securities, or any insider information that must be disclosed under the Securities and Futures Ordinance
According to Zhitong Finance APP, FUTONG TECH (00465) resumed trading in the afternoon, with its stock price soaring by 77% at one point. Over the past three trading days, the cumulative increase in stock price has reached 350%. As of the time of publication, it has risen by 52.68%, trading at HKD 3.42, with a transaction volume of HKD 14.0895 million.
In terms of news, FUTONG TECH announced at noon that it was informed by Chairman and Executive Director Chen Jian that on April 2, 2026, he and an independent third party (potential buyer) as the buyer entered into a memorandum of understanding regarding the potential purchase and sale of 187 million shares of the company (accounting for approximately 60.21% of the total issued share capital of the company as of the announcement date). If the transaction is finalized, it may lead to a change in control of the company and a mandatory general offer for all issued shares of the company (excluding shares already owned or agreed to be acquired by the potential buyer and its concert parties) under the takeover code.
The board of directors confirmed after making all reasonable inquiries that, apart from the disclosures mentioned above, it is not aware of any reasons for the changes in stock price and trading volume, or any information that needs to be disclosed to avoid creating a false market in the company's securities, or any insider information that needs to be disclosed under the Securities and Futures Ordinance