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Futong Technology Development Holdings Ltd. ( (HK:0465) ) has provided an update.
Futong Technology Development Holdings Limited has disclosed that its chairman and executive director, Chen Jian, entered into a memorandum of understanding on 2 April 2026 with an independent third party for the potential sale of 187,410,000 shares, representing about 60.21% of its issued share capital. The move follows unusual movements in the company’s share price and trading volumes and, if completed, could trigger a change of control and a mandatory general offer for all remaining shares under Hong Kong’s Takeovers Code.
The company emphasized that no formal, binding sale and purchase agreement has been signed and that key commercial terms remain non-legally binding, meaning the possible transaction may or may not proceed. Futong said it is unaware of other reasons for the recent market volatility, and it will issue monthly updates on the talks as required under the Takeovers Code, while reminding associates of both the company and the potential buyer of their obligation to disclose dealings in the company’s securities during the offer period that commenced on 6 May 2026.
More about Futong Technology Development Holdings Ltd.
Futong Technology Development Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands and traded on the Main Board of the Stock Exchange of Hong Kong. Its shares are identified under stock code 465, and the company is subject to the Hong Kong Listing Rules, the Takeovers Code, and the Securities and Futures Ordinance disclosure regime.
Average Trading Volume: 216,162
Technical Sentiment Signal: Buy
Current Market Cap: HK$392.2M
For a thorough assessment of 0465 stock, go to TipRanks’ Stock Analysis page.