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Hong Kong stocks unusual movement | Capital Grand resumed trading with a sharp rise of over 36%, receiving a 46.55% premium offer from the major shareholder for privatization.
Glolink reported on October 29th | Capital Grand (1329.HK) resumed trading and soared, rising more than 36% to HK$0.79 at one point during the day. On the news front, the group announced that First Capital Investment Holdings recommends privatizing Capital Grand, offering a cash price of HK$0.85 per share, a premium of 46.55% over the suspension price. After completion, an application will be made to the Hong Kong Stock Exchange to delist the shares. Currently, First Capital Investment Holdings holds a total of 67.57% of Capital Grand's shares. (Glolink)
Capital Grand (01329.HK) resumed trading this morning
GLENCORE October 29th | capital grand (01329.HK) announced that the company's shares will resume trading at nine o'clock this morning (29/10/2024).
Resumption of trading: capital grand (01329.HK) major shareholder proposes privatization at HK$0.85 per share.
Capital grand (01329.HK) announced that First Credit Investment Holdings (the summarizer) has recommended privatizing the company through a negotiated arrangement, with a cash price of 0.85 yuan per share, representing a 46.55% premium over the pre-suspension price. After the plan takes effect, the company will apply to the Stock Exchange to withdraw the listing status of the shares. Currently, the summarizer and its concerted actions collectively hold 67.57% of the company's share capital. The company's shares have applied to resume trading on Tuesday (the 29th).
Beijing Capital Grand Plans Privatization and Delisting
Capital grand (01329) received a premium of approximately 46.55% from the controlling shareholder for privatization. It will resume trading on October 29th.
Capital Grand (01329) and the offeror First Platinum Investment Holdings Limited jointly announced on October 16, 2024...
Capital Grand (01329.HK): It is recommended to privatize and delist the company through an agreement arrangement. It is planned to resume trading on October 29.
Capital grand announced on October 28 that on October 16, 2024, the offeror (First Pacific Investments Limited) requested the board of directors to propose privatizing the company to the planned shareholders under Article 86 of the Companies Act by agreement, involving the cancellation of the planned shares and (as consideration) paying the planned shareholders the cancellation price of each planned share in cash, as well as delisting the shares from the Stock Exchange. The plan will provide for the cancellation of all planned shares in exchange for a cash cancellation price of HK$0.85 per planned share. The cash cancellation price per planned share is 0.
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