HK Stock Market Move | SUNART RETAIL (06808) rose nearly 3% but has not received any definite intention to make an offer for a possible offer.

SUNART RETAIL (06808) rose nearly 3%, as of the time of writing, rose 2.82%, to 2.19 Hong Kong dollars, with a turnover of 1016.46 million Hong Kong dollars. On the news front, on November 14, SUNART RETAIL announced that as of the date of this announcement, according to the information provided by Alibaba Group, discussions with potential offerors regarding a possible tender offer are ongoing and the results of such discussions are uncertain; and except for certain confidentiality arrangements, no legally binding agreements have been entered into regarding a possible tender offer. As of the date of this announcement, the company has not received any definite intention from any potential offeror to make a possible tender offer, nor has it received any notice from any potential offeror deciding not to continue with a possible tender offer. Therefore, a tender offer may or may not proceed. Previously, there were market rumors that SUNART RETAIL had attracted interest from private equity investors, potential buyers including Dehong Capital, Hillhouse Capital, and Runtai Group. In response, SUNART RETAIL stated in the announcement that the potential offerors have no connection with SUNART RETAIL or any related parties of the company.