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The latest update is out from CPM Group Ltd. ( (HK:1932) ).
Prime Surplus Limited and SHK Hong Kong Industries Limited have triggered a mandatory conditional cash offer for CNT Group Limited after Prime Surplus acquired an additional 4.66% stake at HK$0.10 per share, lifting their combined interest to about 34.38% of CNT’s issued share capital. The offer, to be made by Yu Ming Investment Management Limited on their behalf at HK$0.10 per CNT share, will extend to all remaining shareholders apart from the offerors and their concert parties, and is accompanied by the establishment of independent board committees and appointment of independent financial advisers at CNT and CPM, setting the stage for potential follow-on mandatory offers for CPM’s shares and options and the resumption of trading in both counters.
More about CPM Group Ltd.
CNT Group Limited is a Hong Kong-listed conglomerate incorporated in Bermuda, while CPM Group Limited is a related Cayman Islands-incorporated company, both with shares traded on the Stock Exchange of Hong Kong. Prime Surplus Limited and SHK Hong Kong Industries Limited are investment vehicles that, together with their concert parties, hold significant stakes in CNT and, indirectly, in CPM, positioning them as key corporate stakeholders in these listed groups.
Average Trading Volume: 36,833
Technical Sentiment Signal: Buy
Current Market Cap: HK$249M
For detailed information about 1932 stock, go to TipRanks’ Stock Analysis page.