HK Stock Market Move | HK ASIA HLDGS (01723) increase widens to 180%, company receives full acquisition offer, plans to explore cryptocurrency investment and other projects.

HK ASIA HLDGS (01723) continued to rise after resuming trading this morning, with the increase expanding to 180%, reaching HK$1.33 at the time of writing, with a trading volume of HK$44.45 million. In terms of news, HK ASIA HLDGS announced that Chairman and Executive Director Xiao Mulong sold approximately 2.81 billion shares or 70.26% to the joint offerer for about HK$126 million. The joint offerer and parties acting in concert accordingly made a cash offer of HK$0.45 per share, representing a discount of approximately 5.26% from the closing price of HK$0.475 before the suspension, including 210K Capital, LP, Sora Valkyrie Limited, Top Legend SPC, and Hengda Investment. In addition, the company proposed to change its name to "Hengyue Holdings Limited" and explore opportunities in cryptocurrency investments, Web 3.0, and other innovative projects.