LFG Updates Market on Conditional Takeover Offer and Regulatory Delays

An announcement from LFG Investment Holdings Limited ( (HK:3938) ) is now available.

LFG Investment Holdings Limited and Fortune Origin International Capital (Holdings) Limited issued a joint update on the progress of a possible mandatory unconditional cash offer for all issued shares in LFG, excluding those already held by the offeror and its concert parties, along with a proposal to cancel all outstanding options. The parties are still working to satisfy conditions under a share purchase agreement, most notably securing Securities and Futures Commission approval for a change in controlling shareholders of LFG’s main licensed subsidiaries, and have cautioned shareholders and investors that completion, and therefore the offers, may or may not proceed.

Regulatory clearance remains the key hurdle, with the offeror and LFG’s main subsidiaries currently responding to SFC queries on the change-of-control application, delaying finalisation and despatch of the composite offer document. Until these conditions are met or waived, completion is pending, and the companies have urged independent shareholders, optionholders and potential investors to exercise extreme caution in dealing in LFG securities, signalling continued uncertainty over the timing and outcome of the proposed takeover.

More about LFG Investment Holdings Limited

LFG Investment Holdings Limited is a Hong Kong-based financial services group listed on the Stock Exchange of Hong Kong. The company operates through licensed subsidiaries and focuses on capital markets and investment-related services under the oversight of local securities regulators.

Average Trading Volume: 168,315

Technical Sentiment Signal: Buy

Current Market Cap: HK$1.68B

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