HK Stock Market Move | MOST Kwai Chung (01716) resumed trading and rose by more than 31% at one point, with a change in controlling ownership and the new majority shareholder offering a discount of approximately 42.45% to acquire all shares.

MOST KWAI CHUNG (01716) resumed trading this morning and rose over 31% at one point. As of the time of writing, it has increased by 27.27% to 1.54 Hong Kong dollars, with a trading volume of 31.07 million Hong Kong dollars. On the news front, on the evening of March 12, MOST KWAI CHUNG announced that its original controlling shareholder, Blackpaper Limited, has sold 65% of its shares to the independent third party Dr. Ma Liyang, involving 175.5 million shares at a total price of 122 million Hong Kong dollars, equivalent to a price of 0.6963 Hong Kong dollars per share. Following the completion of the transaction, the buyer must submit a mandatory general tender offer at a cash price of 0.6963 Hong Kong dollars per share, representing a discount of 42.45% compared to the pre-suspension price. After the offer is completed, the new shareholder intends to maintain the listed status of the company.