HK Stock Market Move | CLSA Premium (06877) opened more than 8% higher, receiving a discount of approximately 33.57% from Beijing Tongrentang (Cayman) Limited to fully purchase the tender offer.

CLSA PREMIUM (06877) opened up more than 8%. As of the time of writing, it is up 8.11% at 0.2 Hong Kong dollars, with a trading volume of 268,000 Hong Kong dollars. On the news front, CLSA PREMIUM and the offeror Beijing Tongrentang (Cayman) Limited jointly announced that on February 18, 2025, the offeror completed the acquisition of approximately 813 million shares of CITIC SEC International Limited, representing 40% of the total issued share capital of the company as of the date of this joint announcement, at a total cost of 97.99 million Hong Kong dollars (equivalent to approximately 0.1205 Hong Kong dollars per share). Following the completion and as of the date of this joint announcement, the offeror and its concert parties (including the vendor) hold interests in approximately 1.2 billion shares (approximately 59.03% of the total issued share capital of the company). Pursuant to Rule 26.1 of the Takeovers Code, following the completion, the offeror is required to make an unconditional mandatory cash offer for all of the issued shares (excluding any shares already owned or agreed to be acquired by the offeror and its concert parties) at a price of 0.1229 Hong Kong dollars per offer share, representing a discount of approximately 33.57% to the closing price of 0.185 Hong Kong dollars per share on the last trading day on The Stock Exchange of Hong Kong. It is reported that the offeror is a limited liability company established in the Cayman Islands, and is an innovative health ecosystem company combining the internet, integrating global health and pharmaceutical resources, and providing high-quality professional health products and services to global consumers through the Internet + model, combined with mobile internet technology, health cloud computing, artificial intelligence technology, etc. The offeror's group business includes a Chinese medicine internet hospital platform and a cross-border e-commerce platform.