HK Stock Market Move | GAIN PLUS HLDGS (09900) surges over 6% again with its stock price more than tripling in 4 days, acquired 32.33% by Huang Hao and has initiated a mandatory unconditional takeover offer.

GAIN PLUS HLDGS (09900) rises by more than 6%, the stock resumed trading on December 17th and closed up by over 98% on that day, with a cumulative increase of more than three times. As of the time of writing, it has risen by 6.47% to 8.23 Hong Kong dollars, with a turnover of 48.933 million Hong Kong dollars. In terms of news, GAIN PLUS HLDGS recently announced that Chairman Zeng Zhaoqun and shareholder Dingxing Investment have sold a total of 32.33% of the company's shares to Asia General (the offeror), involving 120.2 million shares at a total price of 96.92 million Hong Kong dollars, equivalent to a price of 0.806 Hong Kong dollars per share. After completion, the offeror and its persons acting in concert collectively hold 36.23% of the company's share capital, and are required to make a mandatory general offer in cash at a price of 0.806 Hong Kong dollars per share, representing a discount of 60.1% to the pre-suspension closing price, involving a maximum cash amount of approximately 203 million Hong Kong dollars. After completion, the offeror intends to maintain the listing of the shares on the Stock Exchange. It is reported that the offeror is wholly owned by Huang Hao. Huang Hao has over 20 years of senior management experience in overall strategy, business development, and opening retail chain stores. GAIN PLUS HLDGS previously announced its interim performance for the six months ended September 30, 2024, with revenue of approximately 621 million Hong Kong dollars, an increase of 28.74% year-on-year; attributable profit to owners of the company was 16.658 million Hong Kong dollars, an increase of 21.67% year-on-year.